| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 83 | 7.1x | 17.8x | Top tier | |
Growth | 88 | 42.0% | 7.1% | Top tier | |
Quality | 66 | 12.6% | 4.5% | Around median | |
Safety | 92 | — | 2.6x | Top tier | |
Capital Return | 39 | — | 2.12% | Bottom tier | |
Momentum | 92 | 158.3% | 2.9% | Top tier | |
Sentiment | 90 | 8 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Centerra Gold Inc. produces gold and copper and develops molybdenum assets, with existing operations at Mount Milligan and Oksut, while its growth pipeline includes Goldfield, Kemess, the restart of Thompson Creek, and the Langeloth facility. In Q2 FY2026, the company sold more than 72 thousand ounces of gold and 13.4 million pounds of copper, while Langeloth sold approximately 3.8 million pounds of molybdenum; the average realized price was $3,440 per ounce of gold, $5.30 per pound of copper, and $29.73 per pound of molybdenum, with Mount Milligan prices affected by existing streaming agreements.
In Q2 FY2026, Centerra reported adjusted net earnings of $79 million, or $0.40 per share, and generated $66 million in operating cash flow, but recorded a free cash flow deficit of $23 million due to the timing of periodic tax and royalty payments in Turkey. Mount Milligan alone generated $118 million in operating cash flow and $89 million in free cash flow, compared with $16 million and $11 million, respectively, at Oksut, while U.S. Moly used approximately $45 million in cash from operations and recorded a free cash flow deficit of $89 million.
The context does not include a consolidated revenue figure or an accounting margin for Q2 FY2026, but the latest available annual EDGAR filings show that FY2023 revenue was $1.1 billion, with gross profit of $264 million, a net loss of $81.3 million, and negative earnings per share of $0.38. Annual revenue increased from $850.2 million in FY2022, while the gross profit margin calculated from the published figures was approximately 24% in FY2023, compared with approximately 21% in FY2022, despite the continued net loss in both years.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is “Buy” with an average target of $19, but the highest and lowest targets are also both $19, so the consensus does not provide a range of multiple opinions for measuring uncertainty. This target falls within the 52-week range of $8.22–24.52 and is approximately 22.5% below its high; the absence of a usable price-to-earnings ratio is also consistent with the net losses recorded in the latest available fiscal years, making asset valuation and expected project cash flows more important than the current earnings multiple.
Figures in the text are as of 2026-08-31; the live price is shown at the top of the page.
Centerra raised its consolidated gold production guidance to 260–290 thousand ounces from 250–280 thousand ounces in Q2 FY2026. The increase came primarily from Oksut, where production exceeded 32.5 thousand ounces during the quarter due to higher ore grades and improved operating practices. As a result, annual Oksut guidance increased to 120–135 thousand ounces, up 9% at the midpoint, while Mount Milligan guidance remained at 140–155 thousand ounces of gold and 50–60 million pounds of copper.
Centerra ended Q2 FY2026 with $451 million in cash and increased its revolving credit facility in July 2026 to $600 million for four years and on improved pricing terms. The facility remained undrawn, increasing total liquidity to more than $1 billion, and management said there were no immediate plans to use it. The company believes that operating cash flows and its current balance sheet are sufficient to fund Mount Milligan, Goldfield, Kemess, and Thompson Creek while continuing share repurchases.
Thompson Creek targets first production in mid-2027, and approximately 52% of its infrastructure refurbishment was complete in Q2 FY2026 within an estimated total cost of between $425 million and $450 million. Goldfield maintains its 2028 production start schedule and total project cost of $252 million, despite bringing $60–70 million of spending forward to FY2026. For Kemess, the company is preparing a preliminary feasibility study expected in mid-2027, while the Mount Milligan plan includes a 10% increase in processing capacity beginning in 2028 and an extension of the mine life to 2045.
U.S. Moly represents a potential source of diversification and cash, and includes the Thompson Creek restart and integrated operations with Langeloth. In Q2 FY2026, Langeloth sold approximately 3.8 million pounds at an average realized price of $29.73 per pound, and the company set FY2026 guidance at 11–13 million pounds of production and 15–17 million pounds of sales. However, the business remains in a capital-intensive investment phase, having recorded a free cash flow deficit of $89 million during the quarter, while management stated that molybdenum prices of $32–33 exceed the project's original assumption of $20.
Centerra is studying an extension of Oksut's mine life by incorporating low-grade oxides outside the current pit limits and improving recovery of remaining metal from the heap leach pads. Management estimated the preliminary potential at an additional one to three years, but did not commit to adding the entire period at once. An updated mine-life optimization study is scheduled for release in early 2027, alongside drilling at nearby targets located between one and three kilometers from Oksut.
The company purchased 2.9 million shares for $50 million in Q2 FY2026, bringing total first-half spending to $72 million. The board authorized purchases of up to $200 million for FY2026, and the CEO confirmed that this is the figure that should be used as the expectation for the year. Centerra also declared a quarterly dividend of $0.07 per share while funding its organic growth program.
