Shares of Centerra Gold Inc. (CGAU) plummeted nearly 6.3% on Thursday, November 1st, after the Canadian gold mining company reported disappointing third-quarter earnings results.
Centerra Gold's adjusted earnings for the quarter ended September 30, 2024, came in at $0.18 per diluted share, falling short of analysts' average estimate of $0.20 per share. The company's revenue for the quarter also declined 5.8% year-over-year to $323.9 million, missing analysts' expectations of $326.9 million.
The earnings and revenue misses against Wall Street's projections were likely the primary drivers behind Centerra Gold's stock selloff on Thursday. Investors reacted negatively to the disappointing third-quarter results, which reflected a weaker-than-expected performance for the gold mining company.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.