FY2024 EPS Estimates for Centerra Gold Reduced by Desjardins

Centerra Gold Inc. (NYSE:CGAU) – Equities researchers at Desjardins cut their FY2024 earnings per share (EPS) estimates for Centerra Gold in a research note issued to investors on Thursday, February 13th. Desjardins analyst A. Carson now forecasts that the company will earn $0.68 per share for the year, down from their previous forecast of $0.80. Desjardins has a “Hold” rating on the stock. The consensus estimate for Centerra Gold’s current full-year earnings is $0.77 per share. Desjardins also issued estimates for Centerra Gold’s Q4 2024 earnings at $0.14 EPS.

Separately, Scotiabank reduced their target price on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Centerra Gold currently has an average rating of “Hold” and an average target price of $11.00.

Centerra Gold Price Performance

Shares of CGAU stock opened at $6.44 on Monday. The business’s 50 day simple moving average is $6.04 and its 200 day simple moving average is $6.51. Centerra Gold has a one year low of $4.88 and a one year high of $7.82. The stock has a market capitalization of $1.35 billion, a PE ratio of 13.41 and a beta of 0.91.

Hedge Funds Weigh In On Centerra Gold

A number of institutional investors and hedge funds have recently modified their holdings of CGAU. Donald Smith & CO. Inc. boosted its holdings in shares of Centerra Gold by 30.1% during the 4th quarter. Donald Smith & CO. Inc. now owns 8,723,060 shares of the company’s stock worth $49,634,000 after buying an additional 2,017,756 shares in the last quarter. Amundi boosted its holdings in shares of Centerra Gold by 168.6% during the 4th quarter. Amundi now owns 2,628,623 shares of the company’s stock worth $15,377,000 after buying an additional 1,650,160 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Centerra Gold by 59.0% during the 3rd quarter. Bank of Montreal Can now owns 3,869,035 shares of the company’s stock worth $28,690,000 after buying an additional 1,435,794 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Centerra Gold by 36.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock worth $31,514,000 after buying an additional 1,175,000 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Centerra Gold by 24.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,808,773 shares of the company’s stock worth $33,028,000 after buying an additional 1,126,825 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors.

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.