Centerra rated cautious Buy with 20-24% upside on molybdenum price boost and Thompson Creek progress

Centerra (CGAU) is rated a cautious Buy with an expected 20-24% upside driven by Thompson Creek's nearing production start and higher molybdenum prices, which are nearly 70% above initial feasibility estimates. The heavy capital expenditure phase at Thompson Creek is mostly complete, reducing cash burn as production begins mid-2027. This boosts projected cash flow and overall net asset value (NAV), supporting a target valuation multiple of 0.85x. Key risks include commodity price fluctuations and operational execution challenges.

Centerra Gold shares have seen a recent rally, but on Pluang, CGAU is trading at USD 19.61, down 4.67% for the day. The stock's market cap stands at $3.99 billion as of Nov 03, 2026 23:11 WIB.