Stock Track | Centerra Gold Plunges on Q3 Earnings Disappointment

Stock Track
2024/11/01

Shares of Centerra Gold Inc. (CGAU) plummeted nearly 6.3% on Thursday, November 1st, after the Canadian gold mining company reported disappointing third-quarter earnings results.

Centerra Gold's adjusted earnings for the quarter ended September 30, 2024, came in at $0.18 per diluted share, falling short of analysts' average estimate of $0.20 per share. The company's revenue for the quarter also declined 5.8% year-over-year to $323.9 million, missing analysts' expectations of $326.9 million.

The earnings and revenue misses against Wall Street's projections were likely the primary drivers behind Centerra Gold's stock selloff on Thursday. Investors reacted negatively to the disappointing third-quarter results, which reflected a weaker-than-expected performance for the gold mining company.

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