Can Centerra Gold Maintain Expansion Amid a Robust Gold Market?

Centerra Gold Inc. Posts Strong Q4 2025 Results

Centerra Gold Inc. (CGAU) announced revenue of approximately $401.6 million for the fourth quarter of 2025, marking a 33% rise compared to the same period last year. This growth was largely fueled by higher realized prices for both gold and copper, which helped counterbalance a reduction in sales volumes. The company’s consolidated production for the quarter included 70,853 ounces of gold and nearly 13 million pounds of copper, with the Mount Milligan and Oksut mines remaining significant contributors.

In the fourth quarter, Centerra sold 68,143 ounces of gold at an average price of $3,415 per ounce, compared to 83,876 ounces at $2,207 per ounce in the previous year. Copper sales reached 12.5 million pounds at an average realized price of $4.69 per pound, down from 16.4 million pounds at $2.88 per pound a year earlier.

Despite lower sales volumes, the surge in commodity prices propelled overall revenue. Centerra also benefited from ongoing cost control measures and operational improvements at its primary sites.

Performance of Industry Peers

IAMGOLD Corporation (IAG) reported fourth-quarter 2025 revenue of $1.09 billion, a dramatic 130% increase from $469.9 million in the same quarter of 2024. This performance was supported by enhanced operations and increased mill throughput at the Cote mine, as well as continued efficiency gains across its assets.

Agnico Eagle Mines Limited (AEM) delivered robust revenue of about $3.56 billion, up from roughly $2.22 billion in the fourth quarter of 2024. The company’s results were driven by a significantly higher average realized gold price of around $4,163 per ounce. Agnico Eagle maintained steady production, with strong output from key sites such as Canadian Malartic, Detour Lake, and LaRonde. The company also benefited from its presence in stable mining jurisdictions, ongoing optimization, and disciplined cost management.

CGAU: Zacks Investment Research Overview

Over the past year, CGAU shares have surged 220%, outpacing the gold mining industry’s 142.4% gain.

Currently, CGAU trades at a forward 12-month price-to-sales ratio of 2.92, which is below the industry average of 3.41. The stock holds a Value Score of B according to Zacks.

Consensus estimates from Zacks suggest that CGAU’s earnings will grow by 56% in 2026 and by 15% in 2027.

Analyst expectations for CGAU’s earnings per share in fiscal 2026 and 2027 have been trending upward over the past two months.

CGAU currently holds a Zacks Rank #1 (Strong Buy).

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Additional Free Stock Analysis Reports

• Agnico Eagle Mines Limited (AEM): Free Stock Analysis Report
• Iamgold Corporation (IAG): Free Stock Analysis Report
• Centerra Gold Inc. (CGAU): Free Stock Analysis Report