Centerra Gold Raises Öksüt Guidance, Expands Buyback to $200M After Strong Q2
CGAU has more than doubled off its 52-week low of $6.71.
Summary
Centerra Gold delivered Q2 net earnings of $72.1M ($0.37/share) on gold production of 70,727 oz, with costs well-controlled at AISC of $1,707/oz. The company raised Öksüt's 2026 gold production guidance by 9% to 120,000-135,000 oz, lifting consolidated guidance to 260,000-290,000 oz. Management also expanded the 2026 share buyback program to $200M, up from prior plans, signaling confidence in cash generation. The balance sheet remains strong following a recent credit facility upsizing to $600M. Growth projects are advancing: Thompson Creek achieved its highest mining rate and remains on track for first molybdenum production in mid-2027, while Goldfield is progressing toward late 2028 first production. The raised guidance and aggressive capital return program, combined with operational momentum, make this a material positive update for the stock.
At the time of this announcement, CGAU was trading at $16.01 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $3.2B. The 52-week trading range was $6.71 to $21.17. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.