Streetbeat News

CGAU

Centerra Gold Inc.

https://www.centerragold.com

Industry

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 include the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt Gold Mine located in Turkey. The company was incorporated in 2002 and is headquartered in Toronto, Canada.

Open

5.80

Mkt cap

1.2B

Volume

839K

High

5.91

P/E Ratio

12.04

52-wk high

7.82

Low

5.76

Div yield

0.04

52-wk low

4.47

Gold prices surged to over $2,200 per ounce, influenced by the Federal Reserve's indication of interest rate cuts, leading to a 30% rally in several gold mining stocks. Bank of America analysts favor gold as a trade for 2024, citing its hedge status, central bank accumulations, and potential ETF investor increases. Despite gold's rise, some mining stocks like the VanEck Gold Miners ETF (GDX) lag behind. Bank of America identifies undervalued stocks such as Centerra Gold Inc. (CGAU), B2Gold Corp. (BTG), Barrick Gold Corp. (GOLD), and Newmont Corp. (NEM), recommending stocks with high upside beta ratios.

Portfolio Pulse from Piero Cingari

March 22, 2024 | 3:56 pm

Gold has reached a record high, but gold mining stocks like those in the VanEck Gold Miners ETF (GDX) and VanEck Junior Gold Miners ETF (GDXJ) have not seen significant movement. Economist Peter Schiff predicts a catch-up rally for these stocks and suggests buying them before the market realizes their potential. Schiff also speculates that investors might be selling mining stocks for Bitcoin ETFs, and anticipates gold to open higher at $2,200 if Bitcoin crashes. Additionally, a list of gold stocks to watch is provided, considering the Federal Reserve's potential rate cuts and gold's role as an inflation hedge.

Portfolio Pulse from Shanthi Rexaline

March 10, 2024 | 5:49 pm

Centerra Gold (NYSE:CGAU) reported Q4 2023 adjusted EPS of $0.28, surpassing the $0.27 estimate, but its sales of $340.00M fell short of the $354.79M estimate. This represents a 63.22% increase in sales compared to the same period last year.