-- Centerra Gold (CG.TO, CGAU) after trade Wednesday reported higher revenue and adjusted profit for the first quarter.
The company said its adjusted profit, excluding most one-time items, rose to US$88.2 million, or US$0.44 per share, in the period, up from US$26.4 million, or US$0.13 per share, a year ago. FactSet expected US$0.43 per share.
Revenue rose 62% to US$484.7 million from US$299.5 million a year prior. FactSet projected US$373.5 million.
Total gold production was 68,001 ounces and copper production was 14.2-million pounds. Gold sales for the quarter were 72,935 ounces at an average price of US$4,172 per ounce, while copper sales were 14.9-million pounds at US$4.48 per pound. These prices include the impact of the Mount Milligan streaming agreement with Royal Gold, the company said.
"Our financial position strengthened this quarter, with our cash balance increasing to $543 million. This was achieved while we continued to invest in our internal growth pipeline, built working capital at Langeloth, and returned $33 million to shareholders through share buybacks and dividends in the quarter," Chief Executive Paul Tomory said.
For 2026, the company expects total gold production of 250,000 to 280,000 ounces and total copper production is projected at 50-million to 60-million pounds.
Centerra shares closed down C$0.75 to C$23.90 on the Toronto Stock Exchange.