Centerra Gold Inc.

TSX:CG Stock Report

Market Cap: CA$1.7b

Centerra Gold Valuation

Is CG undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CG (CA$8.18) is trading above our estimate of fair value (CA$2.99)

Significantly Below Fair Value: CG is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CG?

Key metric: As CG is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CG. This is calculated by dividing CG's market cap by their current earnings.
What is CG's PE Ratio?
PE Ratio11.6x
EarningsUS$104.12m
Market CapUS$1.20b

Price to Earnings Ratio vs Peers

How does CG's PE Ratio compare to its peers?

The above table shows the PE ratio for CG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average32.3x
CXB Calibre Mining
41.9x31.1%CA$1.8b
WDO Wesdome Gold Mines
23.4x49.0%CA$1.9b
KNT K92 Mining
19x29.6%CA$2.0b
SSL Sandstorm Gold
45x20.5%CA$2.3b
CG Centerra Gold
11.6x3.5%CA$1.7b

Price-To-Earnings vs Peers: CG is good value based on its Price-To-Earnings Ratio (11.6x) compared to the peer average (32.3x).

Price to Earnings Ratio vs Industry

How does CG's PE Ratio compare vs other companies in the CA Metals and Mining Industry?

36 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SLI Standard Lithium
2.4xn/aUS$258.37m
THX Thor Explorations
2.7x2.5%US$134.88m
APM Andean Precious Metals
2.3x-42.9%US$124.05m
STGO Steppe Gold
2.1x-11.5%US$105.56m
CG 11.6xIndustry Avg. 12.6xNo. of Companies36PE01632486480+
36 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CG is good value based on its Price-To-Earnings Ratio (11.6x) compared to the Canadian Metals and Mining industry average (12.8x).

Price to Earnings Ratio vs Fair Ratio

What is CG's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.6x
Fair PE Ratio13.4x

Price-To-Earnings vs Fair Ratio: CG is good value based on its Price-To-Earnings Ratio (11.6x) compared to the estimated Fair Price-To-Earnings Ratio (13.4x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$8.18
CA$12.42
+51.9%
12.0%CA$14.16CA$9.26n/a10
Dec ’25CA$8.45
CA$12.14
+43.7%
12.8%CA$14.07CA$9.01n/a9
Nov ’25CA$9.10
CA$12.87
+41.4%
8.0%CA$14.03CA$10.26n/a10
Oct ’25CA$9.79
CA$12.56
+28.3%
8.2%CA$14.03CA$10.14n/a10
Sep ’25CA$9.55
CA$11.99
+25.5%
10.2%CA$13.27CA$8.97n/a10
Aug ’25CA$9.08
CA$12.30
+35.4%
10.5%CA$14.03CA$9.14n/a10
Jul ’25CA$9.20
CA$11.90
+29.3%
10.9%CA$13.85CA$9.00n/a10
Jun ’25CA$9.37
CA$11.74
+25.3%
11.6%CA$13.73CA$8.64n/a10
May ’25CA$8.44
CA$11.33
+34.3%
11.4%CA$13.85CA$8.50n/a10
Apr ’25CA$8.07
CA$10.35
+28.3%
11.5%CA$11.78CA$7.57n/a10
Mar ’25CA$7.00
CA$10.39
+48.4%
12.1%CA$11.82CA$7.58n/a10
Feb ’25CA$7.28
CA$10.77
+47.9%
12.3%CA$11.96CA$7.57n/a9
Jan ’25CA$7.91
CA$10.53
+33.2%
11.6%CA$11.66CA$7.27n/a9
Dec ’24CA$8.32
CA$10.60
+27.4%
13.3%CA$11.98CA$7.47CA$8.459
Nov ’24CA$7.69
CA$10.69
+39.0%
11.3%CA$11.99CA$8.40CA$9.108
Oct ’24CA$6.64
CA$11.08
+66.9%
11.3%CA$12.58CA$8.38CA$9.798
Sep ’24CA$8.00
CA$10.78
+34.8%
12.4%CA$12.73CA$8.35CA$9.559
Aug ’24CA$7.90
CA$10.52
+33.1%
13.1%CA$12.49CA$8.10CA$9.089
Jul ’24CA$7.94
CA$10.40
+31.0%
14.2%CA$12.32CA$7.20CA$9.209
Jun ’24CA$8.37
CA$10.15
+21.2%
15.2%CA$12.37CA$7.23CA$9.379
May ’24CA$9.05
CA$11.01
+21.7%
14.0%CA$13.24CA$7.56CA$8.449
Apr ’24CA$8.73
CA$9.75
+11.6%
16.7%CA$12.48CA$6.29CA$8.079
Mar ’24CA$8.90
CA$9.80
+10.1%
16.5%CA$12.48CA$6.29CA$7.009
Feb ’24CA$9.00
CA$8.99
-0.2%
15.9%CA$11.38CA$6.23CA$7.289
Jan ’24CA$7.01
CA$9.19
+31.1%
25.5%CA$15.20CA$6.77CA$7.9110
Dec ’23CA$7.39
CA$9.29
+25.7%
24.8%CA$15.23CA$6.85CA$8.3210

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/20 07:14
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Centerra Gold Inc. is covered by 26 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Raj RayBMO Capital Markets Equity Research
Brian QuastBMO Capital Markets Equity Research
Lawson WinderBofA Global Research