Raymond James Optimistic About Centerra Gold's Q4 Earnings

Centerra Gold Inc. (NYSE:CGAU) has received an optimistic outlook from equities researchers at Raymond James, who have increased their Q4 2024 earnings per share (EPS) projections for the company. In a note sent to investors on December 18th, Raymond James analyst B. Macarthur revised the anticipated earnings per share to $0.15, up from the previous forecast of $0.14.

As reported, the consensus estimate for Centerra Gold's full-year earnings stands at $0.79 per share. Furthermore, Raymond James has also provided predictions for Q3 2025, estimating that the company will achieve $0.08 EPS during that period.

Recently, Centerra Gold announced its quarterly earnings results on October 31st, revealing an EPS of $0.18 for the quarter. Unfortunately, this was below the consensus estimate of $0.20, missing by $0.02. The company's total revenue for that quarter was $323.93 million, with a return on equity (ROE) of 10.34% and a net margin of 8.31%. In the same quarter last year, Centerra Gold reported an EPS of $0.20.

Analyst Ratings

In addition to Raymond James' positive outlook, another financial institution, Desjardins, upgraded Centerra Gold's shares to a "moderate buy" rating on the same day the earnings data was released. Currently, two analysts have assigned a hold rating to the stock, while three have given it a buy rating. MarketBeat.com indicates that the overall rating for Centerra Gold stands at "Moderate Buy" with an average price target of $11.00.

Stock Performance

On a recent trading day, shares of Centerra Gold opened at $5.68, reflecting a 1.1% increase. The company boasts a market capitalization of $1.19 billion and has a price-to-earnings (P/E) ratio of 11.83. The stock has exhibited a beta of 0.89. Its 50-day moving average is $6.42, while the two-hundred-day moving average is $6.73. In the past year, the stock reached a low of $4.47 and a high of $7.82.

Institutional Investments

Several hedge funds and institutional investors have recently adjusted their positions in Centerra Gold (CGAU). Barclays PLC increased its holdings by an impressive 284.5% during the third quarter, now owning 74,930 shares valued at approximately $537,000 after acquiring 55,444 additional shares. Similarly, Toronto Dominion Bank upped its stake by 22.8%, resulting in ownership of 33,921 shares worth $243,000 after purchasing 6,307 extra shares.

Furthermore, Geode Capital Management LLC amplified its holdings by 378.7% during the same period, accumulating 454,939 shares valued at $4,152,000 following an acquisition of 359,905 additional shares. The Public Employees Retirement System of Ohio also invested in Centerra Gold by purchasing shares valued at roughly $4,454,000 during the third quarter. Lastly, Y Intercept Hong Kong Ltd raised its stake by 34.1%, now owning 119,123 shares worth $853,000. The combined ownership of hedge funds and institutional investors accounts for 55.40% of the company's stock.

Dividend Increase Announcement

In a positive development for shareholders, Centerra Gold recently announced an increase in its quarterly dividend, which was distributed on November 27th. Shareholders on record as of November 13th received a dividend of $0.052, an increase from the previous amount of $0.05. The ex-dividend date was also November 13th. This translates into an annualized dividend of $0.21, providing a dividend yield of 3.66%. Centerra Gold currently has a dividend payout ratio (DPR) of 41.67%.

Company Overview

Centerra Gold Inc. is a gold mining company that focuses on acquiring, exploring, developing, and operating gold and copper assets primarily in North America, Turkey, and other international locations. The company's key projects include the fully owned Mount Milligan gold-copper mine in British Columbia, Canada, and the Öksüt gold mine located in Turkey.

earnings, stocks, investors