Brokers Set Expectations for Centerra Gold Inc.’s FY2023 Earnings (NYSE:CGAU)
Centerra Gold Inc. (NYSE:CGAU – Free Report) – Equities researchers at National Bank Financial issued their FY2023 EPS estimates for shares of Centerra Gold in a report issued on Wednesday, January 3rd. National Bank Financial analyst S. Nagle expects that the company will earn ($0.06) per share for the year. National Bank Financial has a “Outperform Spec Overweight” rating on the stock. The consensus estimate for Centerra Gold’s current full-year earnings is $0.02 per share. National Bank Financial also issued estimates for Centerra Gold’s FY2024 earnings at $0.14 EPS.
Centerra Gold (NYSE:CGAU – Get Free Report) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Centerra Gold had a negative net margin of 18.96% and a negative return on equity of 3.72%. The business had revenue of $343.90 million for the quarter.
CGAU has been the topic of a number of other research reports. Raymond James cut their price objective on shares of Centerra Gold from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday, December 29th. Desjardins reiterated a “buy” rating on shares of Centerra Gold in a research note on Wednesday, November 29th. Finally, Bank of America increased their price objective on shares of Centerra Gold from $6.10 to $6.20 in a research note on Monday, September 25th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $9.78.
Read Our Latest Stock Analysis on Centerra Gold
Centerra Gold Trading Up 0.2 %
Shares of Centerra Gold stock opened at $5.71 on Monday. Centerra Gold has a 12-month low of $4.51 and a 12-month high of $7.71. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -6.88, a PEG ratio of 0.65 and a beta of 1.00. The firm’s 50 day simple moving average is $5.76 and its two-hundred day simple moving average is $5.68.
Centerra Gold Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 29th. Investors of record on Wednesday, November 15th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Tuesday, November 14th. Centerra Gold’s dividend payout ratio (DPR) is presently -24.10%.
Institutional Trading of Centerra Gold
Hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank lifted its holdings in Centerra Gold by 0.5% during the second quarter. Swiss National Bank now owns 482,200 shares of the company’s stock valued at $2,893,000 after purchasing an additional 2,300 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Centerra Gold by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 160,838 shares of the company’s stock valued at $964,000 after purchasing an additional 2,402 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Centerra Gold by 3.6% during the second quarter. Geode Capital Management LLC now owns 83,523 shares of the company’s stock valued at $501,000 after purchasing an additional 2,920 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in Centerra Gold by 22.8% during the second quarter. Great West Life Assurance Co. Can now owns 17,373 shares of the company’s stock valued at $104,000 after purchasing an additional 3,223 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Centerra Gold by 1.8% during the third quarter. CIBC Asset Management Inc now owns 207,198 shares of the company’s stock valued at $1,016,000 after purchasing an additional 3,640 shares in the last quarter. 51.53% of the stock is owned by hedge funds and other institutional investors.
Centerra Gold Company Profile
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 include the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt Gold Mine located in Turkey.
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