Q2 2023 Earnings Forecast for Centerra Gold Inc. (NYSE:CGAU) Issued By Cormark

Posted by Defense World Staff on May 20th, 2023

Centerra Gold Inc. (NYSE:CGAU – Get Rating) – Analysts at Cormark lowered their Q2 2023 EPS estimates for Centerra Gold in a note issued to investors on Tuesday, May 16th. Cormark analyst R. Gray now anticipates that the company will post earnings per share of ($0.05) for the quarter, down from their prior estimate of $0.16. The consensus estimate for Centerra Gold’s current full-year earnings is $0.45 per share. Cormark also issued estimates for Centerra Gold’s Q3 2023 earnings at $0.33 EPS, Q4 2023 earnings at $0.29 EPS and FY2025 earnings at $0.46 EPS.

A number of other research analysts have also issued reports on CGAU. TD Securities lowered their target price on Centerra Gold from C$10.00 to C$8.50 in a report on Tuesday. National Bank Financial decreased their price objective on Centerra Gold from C$13.00 to C$12.50 in a research report on Thursday. TheStreet lowered Centerra Gold from a “c” rating to a “d+” rating in a research report on Friday, March 3rd. Raymond James raised their price objective on Centerra Gold from C$10.50 to C$11.00 in a research report on Monday, February 27th. Finally, CIBC reduced their price target on Centerra Gold from C$12.00 to C$11.00 in a report on Tuesday.

Centerra Gold Stock Down 0.2 %

Shares of NYSE CGAU opened at $5.26 on Friday. Centerra Gold has a fifty-two week low of $3.77 and a fifty-two week high of $8.56. The firm’s 50-day simple moving average is $6.64 and its 200 day simple moving average is $6.02. The stock has a market cap of $1.15 billion, a P/E ratio of -4.83 and a beta of 0.83.

Centerra Gold (NYSE:CGAU – Get Rating) last posted its earnings results on Monday, May 15th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16). The company had revenue of $226.53 million during the quarter. Centerra Gold had a negative net margin of 30.72% and a negative return on equity of 6.24%. During the same quarter last year, the firm earned $0.19 EPS.

Hedge Funds Weigh In On Centerra Gold

A number of institutional investors and hedge funds have recently bought and sold shares of CGAU. JPMorgan Chase & Co. boosted its holdings in Centerra Gold by 4.9% during the first quarter. JPMorgan Chase & Co. now owns 1,492,950 shares of the company’s stock worth $9,659,000 after buying an additional 70,260 shares during the last quarter. Harvest Portfolios Group Inc. acquired a new stake in shares of Centerra Gold during the first quarter worth about $575,000. First Sabrepoint Capital Management LP acquired a new stake in Centerra Gold in the 1st quarter valued at approximately $3,773,000. Maple Rock Capital Partners Inc. acquired a new stake in Centerra Gold in the 1st quarter valued at approximately $12,918,000. Finally, Polar Asset Management Partners Inc. raised its position in Centerra Gold by 34.9% in the 1st quarter. Polar Asset Management Partners Inc. now owns 161,247 shares of the company’s stock valued at $1,040,000 after buying an additional 41,697 shares during the last quarter. Institutional investors and hedge funds own 51.63% of the company’s stock.

Centerra Gold Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Shareholders of record on Monday, May 29th will be given a $0.052 dividend. This represents a $0.21 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date is Thursday, May 25th. Centerra Gold’s dividend payout ratio (DPR) is -19.27%.

Centerra Gold Company Profile

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Centerra Gold, Inc engages in the operation, development, exploration and acquisition of gold and copper properties. It operates through the following segments: Kumtor, Mount Milligan, and Öksüt. The company was founded on November 7, 2002 and is headquartered in Toronto, Canada.