Centerra Gold reported third quarter 2026 revenue of $500.3 million, exceeding analyst estimates of $453.24 million. Adjusted net earnings reached $71.8 million ($0.37 per share), also beating the consensus of $0.33 per share. Performance was driven by a strong average realized gold price of $3,483 per ounce and consistent operational execution at the Mount Milligan and Öksüt mines, which produced 44,070 and 31,359 ounces of gold, respectively.
Key Highlights
- Lowered 2026 AISC guidance for the Mount Milligan mine to $1,100–$1,200 per ounce, down from $1,200–$1,300, due to robust copper by-product credits.
- Executed record quarterly share repurchases of $53.0 million, with $125.2 million returned to shareholders through buybacks year-to-date.
- Thompson Creek Mine restart remains on track for mid-2027 production, with infrastructure refurbishment currently 65% complete.
- Consolidated gold production of 75,429 ounces and copper production of 12.8 million pounds remains in line with full-year 2026 guidance.