Centerra Gold Earnings Decline In Q1, Board Approves Share Buyback Of Up To $75 Mln

(RTTNews) - Centerra Gold Inc. (CG.TO, CGAU), a Canadian gold mining company, on Tuesday announced that earnings decreased in the first quarter compared with the previous year. Further, the Board has approved a share buyback of up to $75 million.

For the first quarter, net earnings declined to $30.5 million from $66.4 million last year.

Earnings per share were $0.15 versus $0.31 last year.

Adjusted net earnings declined 16 percent to $26.4 million from $31.3 million in the previous year.

Adjusted earnings per share were $0.13 versus $0.15 in the previous year's quarter.

Nine Analysts, on average, had expected the company to report $0.13 per share. Analysts' estimates typically exclude special items.

Revenue decreased 2 percent to $299.5 million from $305.8 million last year.

Centerra's Board of Directors has approved a repurchase of up to $75 million shares in 2025.

Looking ahead, the company expects full year 2025 costs and profitability of Langeloth unit's operations income or loss to range between loss of $3 million to a profit of $5 million.

While the EBITDA is expected for the full year 2025 to range between $2 million and $8 million.

Additionally, the company has updated the mineral resource estimate at Kemess and is advancing project studies, targeting a potential 15-year gold-copper mine with significant existing infrastructure.

Monday, Centerra Gold had closed 1.57% higher at $6.48 on the New York Stock Exchange.