Raymond James Comments on Centerra Gold Inc.’s Q2 2024 Earnings (NYSE:CGAU)

Centerra Gold Inc. (NYSE:CGAU) – Raymond James upped their Q2 2024 earnings per share estimates for shares of Centerra Gold in a research report issued to clients and investors on Tuesday, April 23rd. Raymond James analyst B. Macarthur now forecasts that the company will post earnings per share of $0.21 for the quarter, up from their previous estimate of $0.09. Raymond James currently has a “Outperform” rating and a $11.00 target price on the stock. The consensus estimate for Centerra Gold’s current full-year earnings is $0.49 per share. Raymond James also issued estimates for Centerra Gold’s Q3 2024 earnings at $0.13 EPS, Q4 2024 earnings at $0.13 EPS and FY2024 earnings at $0.57 EPS.

Several other brokerages also recently weighed in on CGAU. National Bank Financial reiterated an “outperform overweight” rating on shares of Centerra Gold in a research note on Monday, April 8th. CIBC raised their price target on Centerra Gold from $9.50 to $11.00 and gave the company an “outperformer” rating in a report on Monday, April 15th. Finally, BMO Capital Markets began coverage on Centerra Gold in a report on Wednesday, February 21st. They set an “outperform” rating for the company. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Centerra Gold presently has a consensus rating of “Buy” and a consensus price target of $9.78.

Centerra Gold Stock Performance

NYSE:CGAU opened at $6.29 on Friday. The stock’s 50 day moving average price is $5.71 and its 200 day moving average price is $5.57. Centerra Gold has a 52-week low of $4.47 and a 52-week high of $7.23.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The firm had revenue of $340.00 million for the quarter. Centerra Gold had a positive return on equity of 0.62% and a negative net margin of 7.43%.

Centerra Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were issued a $0.0518 dividend. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.30%. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, March 12th. Centerra Gold’s payout ratio is -43.24%.

Institutional Investors Weigh In On Centerra Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Versor Investments LP purchased a new stake in Centerra Gold during the third quarter valued at about $52,000. Heron Bay Capital Management bought a new position in Centerra Gold during the 4th quarter worth approximately $77,000. Dynamic Technology Lab Private Ltd acquired a new stake in Centerra Gold in the fourth quarter worth $98,000. Hsbc Holdings PLC increased its position in Centerra Gold by 134.2% in the third quarter. Hsbc Holdings PLC now owns 35,587 shares of the company’s stock worth $174,000 after buying an additional 20,389 shares during the period. Finally, Insigneo Advisory Services LLC acquired a new stake in Centerra Gold in the third quarter worth $223,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

About Centerra Gold

Centerra Gold Inc, a gold mining company, engages in the acquisition, exploration, development, and operation of gold and copper properties in North America, Turkey, and internationally. The company explores for gold, copper, and molybdenum deposits. Its flagship projects are the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt gold mine located in Turkey.