Can Centerra Gold Sustain Growth in a Strong Gold Market?

Centerra Gold Inc. CGAU reported fourth-quarter 2025 revenue of about $401.6 million, representing a 33% increase from the prior-year quarter. The improvement was mainly driven by higher realized prices for both gold and copper, which more than offset the decline in metal sales volumes. Consolidated quarterly output reached 70,853 ounces of gold and about 13 million pounds of copper in the quarter, with Mount Milligan and Oksut mines remaining key contributors.

During the fourth quarter, the company sold 68,143 ounces of gold at an average realized price of $3,415 per ounce compared with 83,876 ounces sold at $2,207 per ounce in the prior-year quarter. Copper sales totaled 12.5 million pounds at an average realized price of $4.69 per pound in the quarter compared with 16.4 million pounds sold at $2.88 per pound a year ago.

The surge in commodity prices supported overall revenue growth despite lower volumes. Centerra also continued to benefit from disciplined cost management and optimization efforts at its core operations.

Among peers, IAMGOLD Corporation IAG reported revenue of $1.09 billion for the fourth quarter of 2025, marking a sharp 130% increase from $469.9 million in the fourth quarter of 2024. IAMGOLD continued to benefit from operational improvements and higher mill throughput at the Cote mine, ongoing optimization efforts and improved mining efficiencies across its portfolio.

Agnico Eagle Mines Limited AEM reported strong revenue of approximately $3.56 billion, representing a sharp increase from roughly $2.22 billion in the fourth quarter of 2024. The growth was primarily driven by a much stronger realized gold price environment, as the company benefited from an average realized gold price of around $4,163 per ounce during the quarter.

Agnico Eagle maintained solid production levels in the quarter, supported by stable output from key operations such as Canadian Malartic, Detour Lake and LaRonde. Agnico Eagle also benefited from its high-quality, low-risk mining jurisdictions, mine optimization, disciplined cost management and productivity improvements.

The Zacks Rundown for CGAU

Shares of CGAU have popped 220% over the past year compared with the industry’s 142.4% rise.

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From a valuation perspective, CGAU is currently trading at a forward 12-month price-to-sales of 2.92X, below the industry’s average of 3.41X. It carries a Value Score of B.

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The Zacks Consensus Estimate for CGAU for 2026 and 2027 earnings implies year-over-year growth of 56% and 15%.

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The consensus estimate for EPS for fiscal 2026 and 2027 has been trending higher over the past 60 days.

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CGAU currently sports a Zacks Rank of #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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