Is Centerra Gold Capable of Maintaining Its Expansion Amid a Robust Gold Market?

Centerra Gold Inc. Posts Strong Fourth-Quarter 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 around 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 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 drove overall revenue higher. Centerra also benefited from ongoing cost control measures and operational improvements at its core mining sites.

Performance of Industry Peers

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

Agnico Eagle Mines Limited (AEM) delivered robust revenue of about $3.56 billion, up sharply from roughly $2.22 billion in the prior year’s fourth quarter. The company’s performance was driven by a much stronger gold price environment, with an average realized gold price of approximately $4,163 per ounce during the quarter.

Agnico Eagle maintained steady production, bolstered by consistent output from key sites such as Canadian Malartic, Detour Lake, and LaRonde. The company also benefited from operating in stable, low-risk jurisdictions, as well as ongoing mine optimization and cost management initiatives.

Centerra Gold: Zacks Analysis and Outlook

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

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

Zacks’ consensus estimates project CGAU’s earnings to grow by 56% in 2026 and by 15% in 2027.

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

Centerra Gold currently holds a Zacks Rank of #1 (Strong Buy).

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