Centerra Gold reported third quarter 2026 revenue of $500.2 million, a significant increase from $395.2 million in the prior year and roughly 10% above analyst estimates. The company achieved basic earnings per share of $0.46, surpassing the $0.33 consensus. Performance was driven by a surge in molybdenum sales and the realization of contingent payments related to its 2021 sale of the Greenstone Partnership.
Key Highlights
- Molybdenum revenue rose to $155.9 million in the third quarter, nearly double the $85.2 million reported in the same period last year.
- The company recognized a $47.8 million receivable from Equinox Gold after the Greenstone Mine reached its second cumulative production milestone; the payment was received on October 2, 2026.
- Shareholder returns continued via the buyback program, with 2.58 million shares repurchased during the quarter for $53.0 million.
- Net earnings were positively impacted by a reduction in deferred tax liabilities following a Turkish government announcement to lower the corporate tax rate for the Öksüt Mine to 12.5% effective 2027.