Centerra Gold Inc. (TSE:CG) Expected to Earn Q2 2024 Earnings of $0.23 Per Share

Centerra Gold Inc. (TSE:CG) – Cormark dropped their Q2 2024 earnings per share estimates for shares of Centerra Gold in a research report issued to clients and investors on Wednesday, July 24th. Cormark analyst R. Gray now forecasts that the company will post earnings of $0.23 per share for the quarter, down from their prior estimate of $0.31. The consensus estimate for Centerra Gold’s current full-year earnings is $0.89 per share.

Centerra Gold (TSE:CG) last released its earnings results on Tuesday, May 14th. The company reported C$0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.21 by C($0.02). Centerra Gold had a return on equity of 3.40% and a net margin of 4.99%. The firm had revenue of C$412.37 million for the quarter.

Other analysts have also recently issued reports about the stock. Cibc World Mkts cut shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. Raymond James lifted their target price on Centerra Gold from C$11.50 to C$12.50 in a report on Tuesday, April 23rd. Canaccord Genuity Group boosted their target price on Centerra Gold from C$11.50 to C$12.50 in a research report on Tuesday, July 23rd. National Bankshares increased their price target on Centerra Gold from C$11.25 to C$12.00 and gave the company an “outperform” rating in a research report on Monday, June 10th. Finally, Bank of America boosted their price objective on Centerra Gold from C$7.55 to C$8.50 in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$11.46.

Centerra Gold Stock Performance

Shares of CG opened at C$9.09 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 3.22 and a quick ratio of 3.24. The firm’s 50 day moving average is C$9.39 and its 200-day moving average is C$8.34. Centerra Gold has a 12-month low of C$6.07 and a 12-month high of C$10.25. The stock has a market capitalization of C$1.95 billion, a P/E ratio of 25.25, a P/E/G ratio of 1.26 and a beta of 1.19.

Centerra Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Wednesday, June 12th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.28 dividend on an annualized basis and a yield of 3.08%. Centerra Gold’s payout ratio is presently 77.78%.

Insider Buying and Selling at Centerra Gold

In related news, Director Craig Stephen Macdougall acquired 10,500 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were purchased at an average price of C$9.56 per share, for a total transaction of C$100,330.65. Insiders have acquired a total of 11,012 shares of company stock valued at $105,101 in the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

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 are the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt gold mine located in Turkey.