Cormark Downgrades Centerra Gold (NYSE:CGAU) to Hold

Cormark cut shares of Centerra Gold (NYSE:CGAU) from a moderate buy rating to a hold rating in a report published on Wednesday morning,Zacks.com reports. Cormark also issued estimates for Centerra Gold’s Q1 2025 earnings at $0.09 EPS, Q3 2025 earnings at $0.09 EPS and FY2026 earnings at $0.61 EPS.

Several other equities analysts have also issued reports on CGAU. Desjardins lowered Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 13th. Scotiabank cut their price objective on shares of Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.00.

Centerra Gold Stock Performance

NYSE CGAU opened at $6.00 on Wednesday. The company has a market cap of $1.26 billion, a PE ratio of 16.67 and a beta of 0.91. Centerra Gold has a 52-week low of $4.90 and a 52-week high of $7.82. The firm’s 50 day moving average price is $6.08 and its 200-day moving average price is $6.50.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Thursday, February 20th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.03). The company had revenue of $302.40 million for the quarter, compared to the consensus estimate of $316.92 million. Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. On average, analysts forecast that Centerra Gold will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.07 dividend. The ex-dividend date is Thursday, March 13th. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.28 dividend on an annualized basis and a yield of 4.67%. Centerra Gold’s dividend payout ratio (DPR) is 52.78%.

Institutional Investors Weigh In On Centerra Gold

Several institutional investors have recently added to or reduced their stakes in CGAU. Integrated Advisors Network LLC purchased a new position in shares of Centerra Gold in the 3rd quarter valued at approximately $367,000. Old West Investment Management LLC increased its stake in Centerra Gold by 100.0% during the 3rd quarter. Old West Investment Management LLC now owns 400,000 shares of the company’s stock valued at $2,864,000 after purchasing an additional 200,000 shares in the last quarter. Versor Investments LP increased its stake in Centerra Gold by 40.9% during the 3rd quarter. Versor Investments LP now owns 146,700 shares of the company’s stock valued at $1,053,000 after purchasing an additional 42,600 shares in the last quarter. Plato Investment Management Ltd purchased a new position in shares of Centerra Gold in the third quarter worth $412,000. Finally, PCJ Investment Counsel Ltd. lifted its stake in shares of Centerra Gold by 59.6% during the third quarter. PCJ Investment Counsel Ltd. now owns 434,628 shares of the company’s stock worth $3,120,000 after buying an additional 162,382 shares during the period. Institutional investors and hedge funds own 55.40% of the company’s stock.

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.