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Canada's Centerra Gold Q3 net earnings fell on impairment absence

By Reuters News


Overview

  • Canada gold and copper producer's Q3 revenue rose yr/yr

  • Company declared a quarterly dividend of C$0.07 per share


Outlook

  • Mount Milligan lowers FY26 AISC guidance to $1,100-$1,200/oz from $1,200-$1,300/oz on stronger copper by-product credits

  • Langeloth raises FY26 adjusted EBITDA guidance to $17-$22 mln from $7-$12 mln as molybdenum prices increase

  • Thompson Creek targets first production in mid-2027 and remains within its $425-$450 mln total capital estimate


Result Drivers

  • GOLDIELD IMPAIRMENT COMPARISON – Net earnings fell sharply as 2025 included a $193.5 mln Goldfield impairment reversal that did not recur

  • MOUNT MILLIGAN BY-PRODUCT CREDITS – Q3 AISC fell 22% q/q to $985/oz on higher gold production and sales and copper by-product credits

  • ÖKSÜT GRADES AND OPERATIONS – Gold production was driven by higher grades, enhanced operating practices and solution management

  • THOMPSON CREEK AND GOLDFIELD SPENDING – Free cash flow was partly offset by capital expenditures at the two development projects


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Earnings

$88.70 mlnn

Q3 Revenue

Beat

$500.30 mln

$453.25 mln (2 Analysts)


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the gold peer group is "buy."

  • Wall Street's median 12-month price target for Centerra Gold Inc. is C$33.50, about 13.1% above its October 28 closing price of C$29.61

  • The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago


Reuters Recommended Reads

  • Oct 28 - Canada's Agnico Eagle Q3 adjusted EPS beats on higher realized gold prices

  • Oct 28 - Canada's Alamos Gold Q3 adjusted EPS misses estimates on lower Young-Davidson production

  • Oct 28 - Canada's Eldorado Gold Q3 adj EPS misses estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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