Centerra Gold (CGAU)
Market Price (8/7/2026): $19.83 | Market Cap: $3.9 BilSector: Materials | Industry: Gold
Centerra Gold (CGAU)
Market Price (8/7/2026): $19.83Market Cap: $3.9 BilSector: MaterialsIndustry: Gold
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 17%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 13% Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -11% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 42% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26% Megatrend and thematic driversMegatrends include Resource Extraction & Processing, and Sustainable Resource Management. Themes include Precious Metals Mining, Resource Efficiency Solutions, Show more. | Stock price has recently run up significantly12M Rtn12 month market price return is 170% Key risksCGAU key risks include [1] the history of asset expropriation following the loss of its Kumtor mine and [2] operational headwinds, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 17%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 13% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -11% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 42% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26% |
| Megatrend and thematic driversMegatrends include Resource Extraction & Processing, and Sustainable Resource Management. Themes include Precious Metals Mining, Resource Efficiency Solutions, Show more. |
| Stock price has recently run up significantly12M Rtn12 month market price return is 170% |
| Key risksCGAU key risks include [1] the history of asset expropriation following the loss of its Kumtor mine and [2] operational headwinds, Show more. |
Qualitative Assessment
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Centerra Gold (CGAU) stock has gained about 15% since 4/30/2026 because of the following key factors:
1. Centerra Gold exceeded revenue expectations in its fiscal Q2 2026, with revenue reaching $442.7 million against a forecast of $334.55 million, representing a 32.33% beat. The company also reported a 5% increase in net earnings to $72.1 million and a 12% rise in consolidated gold production to 70,727 ounces during the quarter, driven by strong operational execution at its Mount Milligan and Öksüt mines.
2. The company raised its 2026 consolidated gold production guidance, reflecting increased confidence in its operational outlook. Centerra Gold updated its 2026 gold production forecast to a range of 260,000 to 290,000 ounces, an increase from the previous guidance of 250,000 to 280,000 ounces. This adjustment represents a 9% midpoint uplift for the Öksüt mine and an approximate 3.8% midpoint increase in total consolidated guidance.
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Centerra Gold (CGAU) stock has gained about 15% since 4/30/2026 because of the following key factors:
1. Centerra Gold exceeded revenue expectations in its fiscal Q2 2026, with revenue reaching $442.7 million against a forecast of $334.55 million, representing a 32.33% beat. The company also reported a 5% increase in net earnings to $72.1 million and a 12% rise in consolidated gold production to 70,727 ounces during the quarter, driven by strong operational execution at its Mount Milligan and Öksüt mines.
2. The company raised its 2026 consolidated gold production guidance, reflecting increased confidence in its operational outlook. Centerra Gold updated its 2026 gold production forecast to a range of 260,000 to 290,000 ounces, an increase from the previous guidance of 250,000 to 280,000 ounces. This adjustment represents a 9% midpoint uplift for the Öksüt mine and an approximate 3.8% midpoint increase in total consolidated guidance.
3. Centerra Gold reinforced its commitment to shareholder returns and strengthened its financial position. The company approved an expanded share repurchase program of up to $200 million for the full year 2026, having already completed $72.2 million in the first six months, including $50 million in fiscal Q2 2026. Additionally, Centerra Gold enhanced its liquidity by upsizing and extending its corporate credit facility to $600 million on July 15, 2026, leading to a quarter-end cash balance of $451 million and total liquidity exceeding $1 billion.
4. A favorable macroeconomic environment characterized by rising gold prices provided a significant tailwind for the stock. Gold prices experienced an upward trend, rising 3.68% over the month leading up to August 6, 2026, with the price reaching $4,256.83 USD per troy ounce. This general appreciation in the value of gold typically benefits gold mining companies like Centerra Gold.
5. Analyst sentiment remained positive, contributing to investor confidence. Wall Street analysts maintained a generally "Buy" or "Moderate Buy" rating for Centerra Gold, with an average brokerage recommendation of 2.08 on a scale of 1 to 5 (Strong Buy to Strong Sell). The average price target suggested a potential upside of 21.32% from the closing price of $18.15, with some analysts forecasting a median price target implying a 35.3% upside. Scotiabank maintained its "Sector Outperform" rating with a $21 price target in April 2026.
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Stock Movement Drivers
Fundamental Drivers
The 14.1% change in CGAU stock from 4/30/2026 to 8/6/2026 was primarily driven by a 12.3% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 8062026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.37 | 19.81 | 14.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,570 | 1,724 | 9.8% |
| Net Income Margin (%) | 40.3% | 36.9% | -8.4% |
| P/E Multiple | 5.5 | 6.1 | 12.3% |
| Shares Outstanding (Mil) | 200 | 198 | 1.0% |
| Cumulative Contribution | 14.1% |
Market Drivers
4/30/2026 to 8/6/2026| Return | Correlation | |
|---|---|---|
| CGAU | 14.1% | |
| Market (SPY) | 6.9% | 49.7% |
| Sector (XLB) | 1.4% | 57.1% |
Fundamental Drivers
The 18.9% change in CGAU stock from 1/31/2026 to 8/6/2026 was primarily driven by a 40.1% change in the company's Net Income Margin (%).| (LTM values as of) | 1312026 | 8062026 | Change |
|---|---|---|---|
| Stock Price ($) | 16.66 | 19.81 | 18.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,285 | 1,724 | 34.1% |
| Net Income Margin (%) | 26.4% | 36.9% | 40.1% |
| P/E Multiple | 10.0 | 6.1 | -38.3% |
| Shares Outstanding (Mil) | 202 | 198 | 2.5% |
| Cumulative Contribution | 18.9% |
Market Drivers
1/31/2026 to 8/6/2026| Return | Correlation | |
|---|---|---|
| CGAU | 18.9% | |
| Market (SPY) | 11.4% | 52.0% |
| Sector (XLB) | 6.4% | 62.8% |
Fundamental Drivers
The 196.2% change in CGAU stock from 7/31/2025 to 8/6/2026 was primarily driven by a 904.1% change in the company's Net Income Margin (%).| (LTM values as of) | 7312025 | 8062026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.69 | 19.81 | 196.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,208 | 1,724 | 42.7% |
| Net Income Margin (%) | 3.7% | 36.9% | 904.1% |
| P/E Multiple | 31.5 | 6.1 | -80.5% |
| Shares Outstanding (Mil) | 209 | 198 | 6.0% |
| Cumulative Contribution | 196.2% |
Market Drivers
7/31/2025 to 8/6/2026| Return | Correlation | |
|---|---|---|
| CGAU | 196.2% | |
| Market (SPY) | 22.6% | 37.1% |
| Sector (XLB) | 20.6% | 47.6% |
Fundamental Drivers
The 237.8% change in CGAU stock from 7/31/2023 to 8/6/2026 was primarily driven by a 116.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312023 | 8062026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.86 | 19.81 | 237.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 798 | 1,724 | 116.0% |
| P/S Multiple | 1.6 | 2.3 | 41.5% |
| Shares Outstanding (Mil) | 218 | 198 | 10.5% |
| Cumulative Contribution | 237.8% |
Market Drivers
7/31/2023 to 8/6/2026| Return | Correlation | |
|---|---|---|
| CGAU | 237.8% | |
| Market (SPY) | 73.8% | 28.4% |
| Sector (XLB) | 28.5% | 39.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CGAU Return | 27% | -30% | 19% | -1% | 159% | 36% | 269% |
| Peers Return | -22% | -2% | 29% | 27% | 133% | -7% | 171% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| CGAU Win Rate | 33% | 42% | 50% | 42% | 83% | 62% | |
| Peers Win Rate | 45% | 45% | 55% | 52% | 78% | 45% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| CGAU Max Drawdown | -32% | -63% | -40% | -28% | -21% | -30% | |
| Peers Max Drawdown | -39% | -44% | -28% | -22% | -22% | -44% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: AEM, KGC, AGI, EGO, BTG.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/6/2026 (YTD)
How Low Can It Go
| Event | CGAU | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -14.7% | -18.8% |
| % Gain to Breakeven | 17.3% | 23.1% |
| Time to Breakeven | 17 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -26.4% | -9.5% |
| % Gain to Breakeven | 35.9% | 10.5% |
| Time to Breakeven | 49 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.8% | -6.7% |
| % Gain to Breakeven | 26.3% | 7.1% |
| Time to Breakeven | 48 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -53.1% | -24.5% |
| % Gain to Breakeven | 113.2% | 32.4% |
| Time to Breakeven | 731 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -35.7% | -33.7% |
| % Gain to Breakeven | 55.6% | 50.9% |
| Time to Breakeven | 398 days | 140 days |
| 2013 Taper Tantrum | ||
| % Loss | -26.9% | -0.2% |
| % Gain to Breakeven | 36.8% | 0.2% |
| Time to Breakeven | 35 days | 1 days |
In The Past
Centerra Gold's stock fell -14.7% during the 2025 US Tariff Shock. Such a loss loss requires a 17.3% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | CGAU | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -26.4% | -9.5% |
| % Gain to Breakeven | 35.9% | 10.5% |
| Time to Breakeven | 49 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.8% | -6.7% |
| % Gain to Breakeven | 26.3% | 7.1% |
| Time to Breakeven | 48 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -53.1% | -24.5% |
| % Gain to Breakeven | 113.2% | 32.4% |
| Time to Breakeven | 731 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -35.7% | -33.7% |
| % Gain to Breakeven | 55.6% | 50.9% |
| Time to Breakeven | 398 days | 140 days |
| 2013 Taper Tantrum | ||
| % Loss | -26.9% | -0.2% |
| % Gain to Breakeven | 36.8% | 0.2% |
| Time to Breakeven | 35 days | 1 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -94.1% | -53.4% |
| % Gain to Breakeven | 1597.7% | 114.4% |
| Time to Breakeven | 383 days | 1085 days |
In The Past
Centerra Gold's stock fell -14.7% during the 2025 US Tariff Shock. Such a loss loss requires a 17.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Centerra Gold (CGAU)
Centerra Gold Inc. (CGAU) is a Canadian-based mining company primarily focused on gold and copper. Its business encompasses the full spectrum of mining operations, including the acquisition, exploration, development, and operation of gold and copper properties. The company maintains an international presence, with operations and exploration activities spanning North America and Turkey, among other global locations.
The company's core products are gold and copper, extracted from its operational mines. Centerra Gold's portfolio includes two significant flagship projects: the Mount Milligan mine, a gold-copper operation located in British Columbia, Canada, and the Öksüt Gold Mine situated in Turkey. While gold and copper are its primary commodities, Centerra Gold also engages in exploration activities for molybdenum deposits.
As a producer of these metals, Centerra Gold serves the global commodities markets. Its gold output is directed towards diverse markets including investment vehicles, jewelry manufacturing, and various industrial applications. Copper, being a fundamental industrial metal, is sold to customers within sectors such as construction, electronics, and general manufacturing worldwide.
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Here are 1-3 brief analogies for Centerra Gold (CGAU):
- Like a smaller Barrick Gold, but concentrating specifically on gold and copper extraction.
- A regional Newmont or Barrick Gold, specializing in gold and copper mining in North America and Turkey.
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- Gold: A precious metal extracted from its mining operations and sold globally.
- Copper: An industrial metal primarily co-produced from its Mount Milligan mine.
- Molybdenum: A metal explored for and potentially produced from its deposits.
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Centerra Gold Inc. (CGAU) is a gold and copper mining company that extracts raw materials. As such, it does not typically have "major customers" in the traditional sense like companies selling finished products or services to other businesses or individuals.
Instead, Centerra Gold sells its commodities (gold and copper concentrate, or gold doré) into global markets. Its primary buyers are generally:
- Metal Refiners: Companies that process the raw gold doré or copper concentrate into pure metals.
- Smelters: Companies that process copper concentrate to extract the raw copper metal.
- Commodity Traders: Large trading houses that buy and sell metals on international markets.
These transactions are typically arms-length and based on prevailing market prices for the commodities. Mining companies like Centerra Gold generally do not disclose specific names of these intermediate buyers, as their output is a fungible commodity sold into a broad market rather than to a limited set of named end-users.
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Paul Tomory, President and Chief Executive Officer
Paul Tomory joined Centerra Gold Inc. in May 2023 and is responsible for leading the strategic direction, growth, and operations of the company. He brings over 25 years of experience in mining, engineering, and construction. Prior to his appointment at Centerra, he served as Executive Vice President and Chief Technical Officer at Kinross Gold Corporation for over 14 years. His earlier career also includes experience as a consultant at Bain & Company and Golder Associates.
Ryan Snyder, Executive Vice President and Chief Financial Officer
Ryan Snyder was promoted to Executive Vice President and Chief Financial Officer in April 2024, having joined Centerra Gold Inc. in 2022 as Vice President, Finance. He leads Centerra's global finance function and has over 15 years of experience in financial management within the mining industry. Before joining Centerra, he was the CFO of Electra Battery Materials Corporation from 2018 to 2022 and CFO of Primero Mining Corporation from 2017 to 2018. He also held key financial roles with Inmet Mining Corporation and began his career with KPMG in Toronto.
David Hendriks, Executive Vice President and Chief Operating Officer
David Hendriks joined Centerra Gold Inc. in April 2025. He is a mining engineer with over 30 years of extensive industry experience, having held leadership roles at Calibre Mining and Kinross Gold. Most recently, he served as Senior Vice President of Nicaraguan Operations at Calibre Mining, where he managed multi-site operations and drove production growth. His prior experience at Kinross Gold involved managing large-scale gold mining operations in Nevada and Mauritania.
Claudia D'Orazio, Executive Vice President, People, Technology and Supply Chain
Claudia D'Orazio possesses over 30 years of experience as a Senior Executive, with a comprehensive background in human resources, risk management, internal audit, information technology, supply chain management, integrations, accounting, treasury, and finance. Before Centerra, she held various executive positions at Pembina Pipeline Corporation and prior to that, progressive senior roles with the Royal Bank and KPMG.
Hélène Timpano, Executive Vice President, Strategy & Corporate Development
Hélène Timpano joined Centerra Gold Inc. in May 2023. She is an experienced mining executive and former management consultant with multinational expertise in operations and development projects. At Centerra, she is responsible for overseeing the company's long-term growth strategies, mergers and acquisitions, and key partnerships. Her most recent executive position before Centerra was as Senior Vice President, Operations at Kinross Gold Corporation, where she directed operations and technical strategy.
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Key Risks to Centerra Gold (CGAU)
- Commodity Price Volatility: Centerra Gold's revenue and valuation are materially exposed to the volatility in global gold and copper prices. Rapid corrections in metal prices, even after periods of record highs, can significantly compress projected free cash flow, impact net asset value (NAV), and strain debt covenants. For example, a sustained retreat from current prices towards or below the company's long-term gold price assumption could negatively affect the economics of its Mount Milligan mine and its development pipeline.
- Geopolitical and Regulatory Risks in Operating Jurisdictions: Centerra Gold faces persistent management challenges due to geopolitical and regulatory risks, particularly concerning its operations in Turkey. Historical interruptions, such as the temporary suspension of the Öksüt Gold Mine due to mercury detection and regulatory changes like increased royalty schedules, underscore the potential for operational disruptions and higher costs. Political instability and changes in government practices can impact profitability and investment decisions.
- Operational Risks: The company faces various operational risks that can impact production and profitability. These include continued water supply issues at the Mount Milligan gold-copper mine, which have previously led to trimmed production guidance. Additionally, persistent inflationary pressures on operating costs for key inputs such as diesel, energy, labor, explosives, and chemical reagents can erode margins and increase all-in sustaining costs (AISC). There are also environmental and social risks related to mining operations, such as potential waste spills and impacts on water resources.
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Centerra Gold's main products are gold and copper. The addressable markets for these products are global.
Gold Market
The global gold market size was valued at USD 291.68 billion in 2024 and is projected to reach USD 400 billion by the end of 2030, exhibiting a compound annual growth rate (CAGR) of 6.51% from 2025 to 2030. In terms of volume, the global gold market stood at 4,890.0 tons in 2025 and is expected to grow to 7,424.4 tons by 2034, recording a CAGR of 4.70% during the forecast period.
Copper Market
The global copper market size was valued at USD 261.93 billion in 2025. This market is projected to grow from USD 279.29 billion in 2026 to USD 466.67 billion by 2034, exhibiting a CAGR of 6.63% during the forecast period. Another estimate places the global copper market size at USD 291.12 billion in 2025, anticipating growth to USD 442.04 billion by 2034, with a CAGR of 4.75% from 2026 to 2034.
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Here are 3-5 expected drivers of future revenue growth for Centerra Gold (CGAU) over the next 2-3 years:
- Mount Milligan Mine Life Extension and Increased Throughput: Centerra Gold's flagship Mount Milligan mine has received regulatory approval to extend operations through 2035, including an 11% production boost to 66,500 tonnes of ore per day and an 80-hectare expansion for construction materials. A Pre-Feasibility Study (PFS) outlines average annual production from 2026 to 2042 of approximately 150,000 ounces of gold and 69 million pounds of copper. The PFS also indicates a 10% increase in process plant capacity by 2029. Furthermore, proven and probable gold reserves at Mount Milligan increased by 56% and copper reserves by 52% from year-end 2024, extending the mine life to 2045.
- Restart of Thompson Creek Molybdenum Mine: Centerra Gold is actively planning the restart of its Thompson Creek molybdenum mine. This project is a key component of the company's self-funded growth strategy and is expected to enhance production visibility and margin potential.
- Advancement of the Goldfield Project: The Goldfield Project in Nevada is anticipated to significantly boost gold production by late 2028. A technical study completed in August 2025 indicated strong economics for the project, positioning it as a key near-term growth opportunity for the company.
- Optimization and Consistent Performance at Öksüt Gold Mine: The Öksüt Gold Mine in Turkey has consistently delivered strong operational performance, often exceeding internal forecasts due to advantageous mine sequencing and access to higher-grade ore zones. Centerra Gold is currently progressing with a life-of-mine optimization study for the asset, which could lead to further efficiencies and sustained production.
- Potential Development of the Kemess Project: Centerra Gold released a Preliminary Economic Assessment (PEA) for its Kemess Project in British Columbia in the first quarter of 2026. The PEA revealed substantial economic potential with an after-tax Net Present Value (NPV) of $1.1 billion, highlighting Kemess's potential to become a meaningful long-life gold and copper asset for Centerra Gold.
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Share Repurchases
- In 2025, Centerra Gold's Board of Directors approved repurchases of up to $75 million of its common shares, with $94 million ultimately repurchased for the full year.
- In the first half of 2025, the company repurchased $42 million worth of shares.
- In 2024, Centerra returned $88 million to shareholders through buybacks and dividends and renewed its Normal Course Issuer Bid (NCIB) to purchase up to 18,800,929 common shares (10% of public float).
Share Issuance
- No significant share issuances were reported for Centerra Gold within the 2021-2025 period.
Inbound Investments
- In 2023, Centerra Gold received a $25 million milestone payment from a subsidiary of the Orion Mine Finance Group, related to the 2021 sale of its 50% interest in the Greenstone Gold Mines Partnership.
Outbound Investments
- In April 2025, Centerra Gold acquired a 9.9% stake in Thesis Gold for C$24.2 million (approximately $17.6 million USD), citing potential growth and synergy with its Kemess project.
- In July 2025, Centerra Gold acquired Midland Exploration Inc. to expand its exploration capabilities in Quebec; financial details were undisclosed.
- In November 2025, Centerra Gold acquired a 9.9% stake in critical minerals explorer Metal Energy through a C$9.3 million financing (approximately $6.75 million USD) to fund drilling at the NIV copper-gold-molybdenum project.
Capital Expenditures
- In 2025, total non-sustaining capital expenditures were planned at $140-$160 million, primarily for the restart of the Thompson Creek molybdenum mine. The Thompson Creek restart project had a targeted 2025 capital expenditure program of $75 million for mill optimization.
- For 2026, sustaining capital expenditures are projected at $85 million to $105 million, and non-sustaining capital expenditures are estimated at $260 million to $350 million. These non-sustaining expenditures include $30 million to $40 million for the Goldfield project and $5 million to $10 million for the Kemess project.
- Total capital expenditures (additions to property, plant, and equipment) were $121.7 million in 2023 and $174.8 million in 2024. Sustaining capital expenditures for 2023 were $83.5 million, focused on the Mount Milligan (water pumping system, tailings storage facility) and Öksüt (deferred stripping, heap leach expansion) mines.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Centerra Gold Stock Jump Looks Great, But How Secure Is That Gain? | 10/17/2025 | |
| CGAU Dip Buy Analysis | 07/10/2025 | |
| Centerra Gold (CGAU) Valuation Ratios Comparison | 05/15/2025 | |
| Centerra Gold Total Shareholder Return (TSR): 0.1% in 2024 and -3.6% 3-yr compounded annual returns (below peer average) | 03/07/2025 | |
| ARTICLES | ||
| Small Cap Stocks Trading At 52-Week High | 01/27/2026 |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 28.36 |
| Mkt Cap | 11.0 |
| Rev LTM | 2,958 |
| Op Inc LTM | 1,519 |
| FCF LTM | 788 |
| FCF 3Y Avg | 577 |
| CFO LTM | 1,124 |
| CFO 3Y Avg | 832 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 44.9% |
| Rev Chg 3Y Avg | 31.8% |
| Rev Chg Q | 35.3% |
| QoQ Delta Rev Chg LTM | 7.4% |
| Op Inc Chg LTM | 102.6% |
| Op Inc Chg 3Y Avg | 100.1% |
| Op Mgn LTM | 50.0% |
| Op Mgn 3Y Avg | 37.3% |
| QoQ Delta Op Mgn LTM | 1.6% |
| CFO/Rev LTM | 40.7% |
| CFO/Rev 3Y Avg | 43.6% |
| FCF/Rev LTM | 22.8% |
| FCF/Rev 3Y Avg | 20.2% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Mount Milligan | 582 | 496 | 407 | 472 | 506 |
| Öksüt | 445 | 466 | 381 | 102 | 199 |
| Molybdenum | 358 | 253 | 307 | 276 | 195 |
| Corporate and other | 0 | 0 | 0 | 0 | |
| Total | 1,385 | 1,215 | 1,095 | 850 | 900 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Öksüt | 238 | 265 | 230 | 61 | 116 |
| Corporate and other | 225 | -286 | -158 | -258 | -60 |
| Mount Milligan | 210 | 118 | 11 | 100 | 309 |
| Molybdenum | -3 | -20 | -65 | 60 | -31 |
| Total | 670 | 77 | 18 | -37 | 334 |
| $ Mil | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|
| Kyrgyz Republic | 949 | 92 | 1,049 | 1,019 | 1,017 |
| Corporate and Other | 525 | 104 | 464 | 189 | 223 |
| Mongolia | 172 | 34 | 175 | 346 | 319 |
| Turkey | 15 | ||||
| Total | 1,661 | 230 | 1,688 | 1,554 | 1,559 |
Price Behavior
| Market Price | $19.81 | |
| Market Cap ($ Bil) | 3.9 | |
| First Trading Date | 02/15/2008 | |
| Distance from 52W High | -5.3% | |
| 50 Days | 200 Days | |
| DMA Price | $16.49 | $16.20 |
| DMA Trend | up | down |
| Distance from DMA | 20.1% | 22.3% |
| 3M | 1YR | |
| Volatility | 57.9% | 54.1% |
| Downside Capture | 142.91 | 131.53 |
| Upside Capture | 160.52 | 215.53 |
| Correlation (SPY) | 47.8% | 38.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.13 | 1.80 | 2.17 | 2.15 | 1.55 | 0.86 |
| Up Beta | 4.53 | 2.70 | 2.84 | 2.14 | 1.84 | 0.73 |
| Down Beta | -0.09 | 2.60 | 2.35 | 2.08 | 0.80 | 0.76 |
| Up Capture | 114% | 121% | 186% | 240% | 403% | 146% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 10 | 20 | 30 | 63 | 145 | 393 |
| Down Capture | -11% | 124% | 192% | 194% | 122% | 97% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 12 | 23 | 33 | 63 | 104 | 341 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CGAU | |
|---|---|---|---|---|
| CGAU | 176.7% | 54.0% | 2.07 | - |
| Sector ETF (XLB) | 19.7% | 17.8% | 0.86 | 47.7% |
| Equity (SPY) | 23.5% | 12.9% | 1.37 | 37.6% |
| Gold (GLD) | 25.3% | 28.3% | 0.79 | 76.3% |
| Commodities (DBC) | 32.4% | 19.8% | 1.30 | 8.3% |
| Real Estate (VNQ) | 12.9% | 13.8% | 0.64 | 14.2% |
| Bitcoin (BTCUSD) | -43.6% | 43.0% | -1.21 | 28.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CGAU | |
|---|---|---|---|---|
| CGAU | 24.0% | 47.6% | 0.61 | - |
| Sector ETF (XLB) | 6.5% | 19.1% | 0.23 | 37.5% |
| Equity (SPY) | 13.2% | 17.2% | 0.59 | 28.1% |
| Gold (GLD) | 17.9% | 18.5% | 0.78 | 62.9% |
| Commodities (DBC) | 8.0% | 19.6% | 0.31 | 22.2% |
| Real Estate (VNQ) | 2.3% | 18.9% | 0.02 | 25.4% |
| Bitcoin (BTCUSD) | 10.0% | 53.0% | 0.38 | 19.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CGAU | |
|---|---|---|---|---|
| CGAU | 12.2% | 50.4% | 0.57 | - |
| Sector ETF (XLB) | 10.0% | 20.7% | 0.43 | 32.2% |
| Equity (SPY) | 15.3% | 17.9% | 0.73 | 23.4% |
| Gold (GLD) | 11.8% | 16.2% | 0.59 | 59.3% |
| Commodities (DBC) | 7.4% | 18.0% | 0.33 | 18.3% |
| Real Estate (VNQ) | 4.9% | 20.7% | 0.20 | 22.5% |
| Bitcoin (BTCUSD) | 58.3% | 66.2% | 0.98 | 17.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/28/2026 | 6-K |
| 03/31/2026 | 04/29/2026 | 6-K |
| 12/31/2025 | 03/23/2026 | 40-F |
| 09/30/2025 | 10/28/2025 | 6-K |
| 06/30/2025 | 08/06/2025 | 6-K |
| 03/31/2025 | 05/06/2025 | 6-K |
| 12/31/2024 | 03/28/2025 | 40-F |
| 09/30/2024 | 10/31/2024 | 6-K |
| 06/30/2024 | 08/01/2024 | 6-K |
| 03/31/2024 | 05/14/2024 | 6-K |
| 12/31/2023 | 03/28/2024 | 40-F |
| 09/30/2023 | 10/31/2023 | 6-K |
| 06/30/2023 | 07/31/2023 | 6-K |
| 03/31/2023 | 05/15/2023 | 6-K |
| 12/31/2022 | 03/30/2023 | 40-F |
| 09/30/2022 | 11/07/2022 | 6-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/28/2026 | 6-K |
| 03/31/2026 | 04/29/2026 | 6-K |
| 12/31/2025 | 03/23/2026 | 40-F |
| 09/30/2025 | 10/28/2025 | 6-K |
| 06/30/2025 | 08/06/2025 | 6-K |
| 03/31/2025 | 05/06/2025 | 6-K |
| 12/31/2024 | 03/28/2025 | 40-F |
| 09/30/2024 | 10/31/2024 | 6-K |
| 06/30/2024 | 08/01/2024 | 6-K |
| 03/31/2024 | 05/14/2024 | 6-K |
| 12/31/2023 | 03/28/2024 | 40-F |
| 09/30/2023 | 10/31/2023 | 6-K |
| 06/30/2023 | 07/31/2023 | 6-K |
| 03/31/2023 | 05/15/2023 | 6-K |
| 12/31/2022 | 03/30/2023 | 40-F |
| 09/30/2022 | 11/07/2022 | 6-K |
| 06/30/2022 | 08/10/2022 | 6-K |
| 03/31/2022 | 05/04/2022 | 6-K |
| 12/31/2021 | 03/22/2022 | 40-F |
| 09/30/2021 | 11/05/2021 | 6-K |
| 06/30/2021 | 08/10/2021 | 6-K |
| 12/31/2003 | 12/31/2004 | Annual |
Investor Activity (13F)
Updated Aug 7, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Materials Resources |
| Chemical & Engineering News (C&EN) |
| Mining.com |
| Plastics News |
| Gold Resources |
| Kitco News |
| World Gold Council |
| Mining Journal |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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