National Bank Downgrades Centerra Gold (CGAU) PT to C$14.75, Keeps Outperform Rating

Centerra Gold Inc. (NYSE:CGAU) is one of the cheap Canadian stocks to buy now. On July 16, National Bank adjusted its price target for Centerra Gold and lowered it from C$15.25 to C$14.75. Despite the slight downgrade, the bank maintained an Outperform rating on the shares and signaled continued confidence in Centerra Gold’s prospects.

In Q1 2025, the company showed gold production of ~60,000 ounces and copper production of 12 million pounds. The company ended the quarter with a strong cash position of $608 million. Adjusted net earnings for Q1 2025 were $26 million, or $0.13 per share. Sales included over 61,000 ounces of gold at an average realized price of $2,554 per ounce, and 12.1 million pounds of copper at an average realized price of $3.80 per pound.

A closeup image of a miner holding a pile of gold nuggets, a representation of the company’s royalty.

Molybdenum sales reached ~4.2 million pounds at an average price of $21.59 per pound. Consolidated All-In Sustaining Costs on a byproduct basis were $1,491 per ounce. The company generated $10 million in free cash flow for the quarter, with Mount Milligan contributing $39 million from operations and $27 million in free cash flow, and Oksut contributing $50 million from operations and $42 million in free cash flow.

Centerra Gold Inc. (NYSE:CGAU) is an energy company that acquires, explores, develops, and operates gold and copper properties in North America, Turkey, and internationally. It also explores for molybdenum deposits.

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Disclosure: None. This article is originally published at Insider Monkey.