Centerra Gold

CGAU

Gold · Basic Materials

Price

$16.05

+0.86 (+5.66%)

Market Cap

$3.19B

Exchange

New York Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Share count falling — buybacks

−30.7% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 296.6M (2021) → 205.6M (2025)

Centerra Gold is a Canadian mining company that digs gold and copper out of the ground and sells those metals on global commodity markets. Its main asset is the Mount Milligan mine in British Columbia, Canada, which produces both gold and copper. The company also operates the Öksüt gold mine in Turkey, making it one of the mid-tier gold producers listed on North American stock exchanges.

Centerra makes money by selling physical gold and copper at prevailing market prices, so its revenue rises and falls with commodity prices rather than subscriptions or contracts. The company operates primarily in Canada and Turkey, with a market cap around $3.2 billion, putting it in the mid-tier range among gold miners. A streaming agreement on Mount Milligan — where Royal Gold receives a portion of production at fixed low prices — limits Centerra's upside from that asset, and ongoing geopolitical risk in Turkey remains a key concern for investors watching the Öksüt operation.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+61.8% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+166.7% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

0.2%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$766M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Centerra Gold grew revenue 62% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

40.8%

Healthy — 40.8% gross margin

Operating Margin

30.4%

Excellent — 30.4% operating margin

ROCE

7.0%

Weak — 7.0% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+27.9%

Fast-growing sales (27.9% YoY)

EPS YoY

+1385.7%

Earnings growing fast (1385.7% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

64%

Modest — 64% of profit becomes cash

FCF Margin

5.8%

Thin free cash flow (5.8%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.00

Conservative — low debt load (0.00)

Interest Cover

23.85x

Comfortably covers interest (23.9x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

5.1x

Attractive valuation — P/E 5.1

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward

-2.2

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend Yield

1.25%

Small dividend — 1.25% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+1.3%

Dividend flat

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