<ul>
<li>你是否曾想过 Centerra Gold 是否真的是一个便宜的投资，或者你是否可能在股票即将起飞时买入？想知道是否是时候入场、持有，还是等待更好的入场时机的人并不在少数。</li>
<li>股票在过去一周内大幅上涨，涨幅达到 6.7%，在过去一个月内上涨 13.1%，年初至今的回报率高达惊人的 119%。这样的表现引起了人们的关注，并引发了关于这波上涨能否持续的问题。</li>
<li>推动这一势头的是，Centerra Gold 最近宣布在其核心矿区进行重大扩张项目。公司还提供了环境许可的最新进展，令投资者对长期增长和运营稳定性感到放心。这些进展向市场发出了明确的信号，并增强了对公司前景的信心。</li>
<li>根据我们的估值检查，Centerra Gold 的估值得分为 5 分（满分 6 分），表明它仍有上涨空间。接下来我们将详细分析常用的估值方法，请继续阅读，以获取超越数字的全新视角。</li>
</ul>
<p>Centerra Gold 在过去一年中实现了 119.8% 的回报。看看这与其他金属和矿业行业的表现相比如何。</p>
<h3>方法一：Centerra Gold 折现现金流（DCF）分析</h3>
<p>折现现金流（DCF）模型是一种常用的估算公司内在价值的方法，通过预测其未来现金流并将其折现到今天的价值。对于 Centerra Gold，该模型依赖于自由现金流（FCF）的预测，基本上反映了在所有费用和投资之后可以返还给股东的现金。</p>
<p>Centerra Gold 最近报告的自由现金流为 1.714 亿美元，分析师预测这一数字将稳步上升，预计到 2027 年将达到 2.174 亿美元。更长远来看，现金流预计将在未来十年内继续上升，到 2035 年将超过 3.18 亿美元。需要注意的是，虽然分析师直接提供了五年内的现金流预测，但更长期的预测是基于合理假设进行推算的。</p>
<p>根据这些预测，DCF 模型计算出的每股公允价值为 38.34 美元。与 Centerra Gold 当前的股价相比，这意味着该股票的交易价格比其内在价值低 51.5%。这表明，对于那些对长期现金流预测背后的假设感到舒适的投资者来说，可能存在上涨潜力。</p>
<p><strong>结果：被低估</strong></p>
<p>我们的折现现金流（DCF）分析表明，Centerra Gold 被低估了 51.5%。将其添加到你的关注列表或投资组合中，或者发现基于现金流的 928 只被低估的股票。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/73d1c2d5-2aa0-4c48-b085-d663db6b41f5/chart/dcf?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/73d1c2d5-2aa0-4c48-b085-d663db6b41f5/chart/dcf"/></p>
<p>截至 2025 年 12 月的 CG 折现现金流</p>
<p>前往我们公司报告的估值部分，了解我们如何得出 Centerra Gold 的公允价值的更多细节。</p>
<h3>方法二：Centerra Gold 的价格与收益</h3>
<p>对于像 Centerra Gold 这样的盈利公司，市盈率（PE）是一个广泛使用且有效的估值指标。它告诉投资者每赚取一美元的收益，他们需要支付多少，这对于持续盈利的企业尤其相关。&#34;合理&#34;的市盈率受未来收益增长预期和公司面临的风险影响。增长较快且风险较低的公司通常会有更高的市盈率，而那些不确定性较大或增长较慢的公司则往往以较低的倍数交易。</p>
<p>Centerra Gold 当前的市盈率为 7.9 倍，与金属和矿业行业的平均市盈率 20.6 倍以及同行平均市盈率 24.0 倍相比显得格外突出。这一直接比较表明，Centerra Gold 可能以低于其行业的价格交易。然而，简单的比较有时可能会产生误导，因为它们没有考虑到盈利能力、增长前景和公司独特风险等关键细节。</p>
<p>这就是 Simply Wall St 的 &#34;公允比率&#34; 的用武之地。公允比率是一个专有指标，通过考虑增长前景、行业、利润率、市值和风险，识别出公司最合理的市盈率倍数。这使得它成为一个比单纯查看同行或行业更具针对性的基准。对于 Centerra Gold，公允比率被计算为 12.2 倍。将其与公司当前的市盈率 7.9 倍进行比较，表明该股票的交易价格低于 Centerra Gold 这一档次的企业所应有的水平，即使在考虑了关键风险和增长因素之后。</p>
<p><strong>结果：被低估</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/73d1c2d5-2aa0-4c48-b085-d663db6b41f5/chart/pe-multiple-vs-industry?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/73d1c2d5-2aa0-4c48-b085-d663db6b41f5/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 12 月的 TSX:CG 市盈率</p>
<p>市盈率讲述了一个故事，但如果真正的机会在其他地方呢？发现 1441 家内部人士正在大举押注爆炸性增长的公司。</p>
<h3>提升你的决策能力：选择你的 Centerra Gold 故事</h3>
<p>之前我们提到过，还有一种更好的理解估值的方法，所以让我们向你介绍叙述。叙述就是你对像 Centerra Gold 这样的公司的看法或故事，将你认为会发生的事情（例如未来的收入、收益和利润变化）与这对其公允价值的意义结合在一起。叙述将公司的现实故事与财务预测联系起来，并将其提炼为易于理解的公允价值估计。在 Simply Wall St 的社区页面上，数百万投资者使用该页面，你可以通过几次点击构建或关注叙述，并查看其他人对该股票的看法。</p>
<p>叙述使您能够通过将公允价值与当前市场价格进行比较，从而做出更明智的决策，并根据背后的理由判断股票是买入还是持有，而不仅仅是依赖数字。当新的财报或新闻发布时，叙述会自动更新，因此您的观点始终反映最新的发展和共识。例如，一位投资者可能认为 Centerra Gold 未来的收益将达到 3.5 亿美元，目标价格接近 14.86 加元，而另一位则预计收益仅为 5200 万美元，目标价格低至 9.48 加元，这显示了叙述如何将预测转化为可操作的个性化见解。</p>
<p>您认为 Centerra Gold 的故事还有更多内容吗？前往我们的社区看看其他人怎么说！</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/73d1c2d5-2aa0-4c48-b085-d663db6b41f5/chart/community-fair-value?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/73d1c2d5-2aa0-4c48-b085-d663db6b41f5/chart/community-fair-value"/></p>
<p>截至 2025 年 12 月的多伦多证券交易所：CG 社区公允价值</p>
<p><em>这篇文章由 Simply Wall St 撰写，内容具有一般性。<strong>我们基于历史数据和分析师预测提供评论，采用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也未考虑您的目标或财务状况。我们的目标是为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中均没有持仓。</em></p>

CGAU

<p>Centerra Gold 的股票大幅上涨，今年迄今回报率达到 119%，这得益于一项重大扩张公告和积极的环境许可更新。该股票被认为被低估，基于现金流折现分析，其交易价格比内在价值低 51.5%，市盈率为 7.9 倍，而合理市盈率为 12.2 倍。这表明投资者有潜在的上涨空间</p>

<ul>
<li>Ever wondered if Centerra Gold is truly a bargain, or if you might be catching the stock just as it takes off? You are not alone in wanting to know whether it is time to jump in, hold, or wait for a better entry point.</li>
<li>Shares have surged impressively, climbing 6.7% over the last week, up 13.1% in the last month, and delivering a staggering 119% year-to-date return. This kind of run grabs attention and raises questions about whether the rally can last.</li>
<li>Fueling this momentum, Centerra Gold recently announced a major expansion project at one of its core mining sites. The company also provided updates on environmental permitting that have reassured investors about long-term growth and operational stability. These developments sent a clear signal to the market and added confidence to the company’s outlook.</li>
<li>According to our valuation checks, Centerra Gold scores a 5 out of 6 for being undervalued, suggesting it could still offer room for upside. We will break down the usual valuation methods next, so keep reading for a fresh perspective on valuing the stock that goes beyond the numbers.</li>
</ul>
<div class="lb-trans"><ul>
<li>你是否曾想过 Centerra Gold 是否真的是一个便宜的投资，或者你是否可能在股票即将起飞时买入？想知道是否是时候入场、持有，还是等待更好的入场时机的人并不在少数。</li>
<li>股票在过去一周内大幅上涨，涨幅达到 6.7%，在过去一个月内上涨 13.1%，年初至今的回报率高达惊人的 119%。这样的表现引起了人们的关注，并引发了关于这波上涨能否持续的问题。</li>
<li>推动这一势头的是，Centerra Gold 最近宣布在其核心矿区进行重大扩张项目。公司还提供了环境许可的最新进展，令投资者对长期增长和运营稳定性感到放心。这些进展向市场发出了明确的信号，并增强了对公司前景的信心。</li>
<li>根据我们的估值检查，Centerra Gold 的估值得分为 5 分（满分 6 分），表明它仍有上涨空间。接下来我们将详细分析常用的估值方法，请继续阅读，以获取超越数字的全新视角。</li>
</ul>
</div><p>Centerra Gold delivered 119.8% returns over the last year. See how this stacks up to the rest of the Metals and Mining industry.</p>
<div class="lb-trans"><p>Centerra Gold 在过去一年中实现了 119.8% 的回报。看看这与其他金属和矿业行业的表现相比如何。</p>
</div><h3>Approach 1: Centerra Gold Discounted Cash Flow (DCF) Analysis</h3>
<div class="lb-trans"><h3>方法一：Centerra Gold 折现现金流（DCF）分析</h3>
</div><p>The Discounted Cash Flow (DCF) model is a common way to estimate a company’s intrinsic value by projecting its future cash flows and then discounting them to today’s value. For Centerra Gold, this model relies on forecasts for Free Cash Flow (FCF), which essentially reflects the cash that could be returned to shareholders after all expenses and investments.</p>
<div class="lb-trans"><p>折现现金流（DCF）模型是一种常用的估算公司内在价值的方法，通过预测其未来现金流并将其折现到今天的价值。对于 Centerra Gold，该模型依赖于自由现金流（FCF）的预测，基本上反映了在所有费用和投资之后可以返还给股东的现金。</p>
</div><p>Centerra Gold’s latest reported Free Cash Flow was $171.4 million, and analysts forecast this figure will steadily climb, with an estimate of $217.4 million in 2027. Beyond that, cash flows are projected to continue rising for the next decade, reaching over $318 million by 2035. It is important to note that while cash flow estimates up to five years are provided directly by analysts, longer-term projections are extrapolated using reasoned assumptions.</p>
<div class="lb-trans"><p>Centerra Gold 最近报告的自由现金流为 1.714 亿美元，分析师预测这一数字将稳步上升，预计到 2027 年将达到 2.174 亿美元。更长远来看，现金流预计将在未来十年内继续上升，到 2035 年将超过 3.18 亿美元。需要注意的是，虽然分析师直接提供了五年内的现金流预测，但更长期的预测是基于合理假设进行推算的。</p>
</div><p>Using these projections, the DCF model calculates an estimated fair value of $38.34 per share. Compared to Centerra Gold’s current share price, this implies the stock is trading at a 51.5% discount to its intrinsic value. This suggests there could be potential upside for investors who are comfortable with the assumptions behind long-term cash flow forecasting.</p>
<div class="lb-trans"><p>根据这些预测，DCF 模型计算出的每股公允价值为 38.34 美元。与 Centerra Gold 当前的股价相比，这意味着该股票的交易价格比其内在价值低 51.5%。这表明，对于那些对长期现金流预测背后的假设感到舒适的投资者来说，可能存在上涨潜力。</p>
</div><p><strong>Result: UNDERVALUED</strong></p>
<div class="lb-trans"><p><strong>结果：被低估</strong></p>
</div><p>Our Discounted Cash Flow (DCF) analysis suggests Centerra Gold is undervalued by 51.5%. Track this in your watchlist or portfolio, or discover 928 more undervalued stocks based on cash flows.</p>
<div class="lb-trans"><p>我们的折现现金流（DCF）分析表明，Centerra Gold 被低估了 51.5%。将其添加到你的关注列表或投资组合中，或者发现基于现金流的 928 只被低估的股票。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/73d1c2d5-2aa0-4c48-b085-d663db6b41f5/chart/dcf" alt="" original-src="https://images.simplywall.st/company/73d1c2d5-2aa0-4c48-b085-d663db6b41f5/chart/dcf"/></p>
<p>CG Discounted Cash Flow as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 CG 折现现金流</p>
</div><p>Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Centerra Gold.</p>
<div class="lb-trans"><p>前往我们公司报告的估值部分，了解我们如何得出 Centerra Gold 的公允价值的更多细节。</p>
</div><h3>Approach 2: Centerra Gold Price vs Earnings</h3>
<div class="lb-trans"><h3>方法二：Centerra Gold 的价格与收益</h3>
</div><p>For profitable companies like Centerra Gold, the Price-to-Earnings (PE) ratio is a widely used and effective valuation measure. It tells investors how much they are paying for each dollar of earnings, making it particularly relevant for a business consistently generating profits. The &#34;right&#34; PE ratio is influenced by expectations of future earnings growth and the risks the company faces. Faster-growing and lower-risk companies typically command higher PE ratios, while those with more uncertainty or slower growth tend to trade at lower multiples.</p>
<div class="lb-trans"><p>对于像 Centerra Gold 这样的盈利公司，市盈率（PE）是一个广泛使用且有效的估值指标。它告诉投资者每赚取一美元的收益，他们需要支付多少，这对于持续盈利的企业尤其相关。&#34;合理&#34;的市盈率受未来收益增长预期和公司面临的风险影响。增长较快且风险较低的公司通常会有更高的市盈率，而那些不确定性较大或增长较慢的公司则往往以较低的倍数交易。</p>
</div><p>Centerra Gold currently trades at a PE of 7.9x, which stands out when compared to both the Metals and Mining industry average of 20.6x and a peer group average of 24.0x. This immediate comparison suggests Centerra Gold may be trading at a discount to its sector. However, simple comparisons can sometimes be misleading as they do not take into account key details like profitability, growth outlook, and risks unique to the company.</p>
<div class="lb-trans"><p>Centerra Gold 当前的市盈率为 7.9 倍，与金属和矿业行业的平均市盈率 20.6 倍以及同行平均市盈率 24.0 倍相比显得格外突出。这一直接比较表明，Centerra Gold 可能以低于其行业的价格交易。然而，简单的比较有时可能会产生误导，因为它们没有考虑到盈利能力、增长前景和公司独特风险等关键细节。</p>
</div><p>This is where Simply Wall St's &#34;Fair Ratio&#34; comes in. The Fair Ratio is a proprietary metric that identifies the most reasonable PE multiple for a company by factoring in growth prospects, industry, profit margins, market cap, and risks. This makes it a much more tailored benchmark than just looking at peers or the industry in isolation. For Centerra Gold, the Fair Ratio is calculated to be 12.2x. Comparing this to the company’s current PE ratio of 7.9x suggests the stock is trading below what would be expected for a business with Centerra Gold’s profile, even after accounting for key risk and growth factors.</p>
<div class="lb-trans"><p>这就是 Simply Wall St 的 &#34;公允比率&#34; 的用武之地。公允比率是一个专有指标，通过考虑增长前景、行业、利润率、市值和风险，识别出公司最合理的市盈率倍数。这使得它成为一个比单纯查看同行或行业更具针对性的基准。对于 Centerra Gold，公允比率被计算为 12.2 倍。将其与公司当前的市盈率 7.9 倍进行比较，表明该股票的交易价格低于 Centerra Gold 这一档次的企业所应有的水平，即使在考虑了关键风险和增长因素之后。</p>
</div><p><strong>Result: UNDERVALUED</strong></p>
<div class="lb-trans"><p><strong>结果：被低估</strong></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/73d1c2d5-2aa0-4c48-b085-d663db6b41f5/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/73d1c2d5-2aa0-4c48-b085-d663db6b41f5/chart/pe-multiple-vs-industry"/></p>
<p>TSX:CG PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 TSX:CG 市盈率</p>
</div><p>PE ratios tell one story, but what if the real opportunity lies elsewhere? Discover 1441 companies where insiders are betting big on explosive growth.</p>
<div class="lb-trans"><p>市盈率讲述了一个故事，但如果真正的机会在其他地方呢？发现 1441 家内部人士正在大举押注爆炸性增长的公司。</p>
</div><h3>Upgrade Your Decision Making: Choose your Centerra Gold Narrative</h3>
<div class="lb-trans"><h3>提升你的决策能力：选择你的 Centerra Gold 故事</h3>
</div><p>Earlier, we mentioned there's an even better way to understand valuation, so let’s introduce you to Narratives. A Narrative is simply your perspective or story about a company like Centerra Gold, combining what you believe will happen, such as future revenue, earnings, and margin changes, with what that means for its fair value. Narratives connect the company’s real-world story to financial forecasts and distill it all into an easy-to-interpret fair value estimate. On Simply Wall St’s Community page, used by millions of investors, you can build or follow Narratives with just a few clicks and see how others are viewing the stock.</p>
<div class="lb-trans"><p>之前我们提到过，还有一种更好的理解估值的方法，所以让我们向你介绍叙述。叙述就是你对像 Centerra Gold 这样的公司的看法或故事，将你认为会发生的事情（例如未来的收入、收益和利润变化）与这对其公允价值的意义结合在一起。叙述将公司的现实故事与财务预测联系起来，并将其提炼为易于理解的公允价值估计。在 Simply Wall St 的社区页面上，数百万投资者使用该页面，你可以通过几次点击构建或关注叙述，并查看其他人对该股票的看法。</p>
</div><p>Narratives allow you to make smarter decisions by comparing your fair value to the current market price and seeing if the stock is a buy or a hold, based not just on numbers, but on the reasoning behind them. As new earnings or news come in, Narratives are updated automatically, so your view always reflects the latest developments and consensus. For example, one investor may see Centerra Gold’s future earnings reaching $350 million and a target price near CA$14.86, while another expects just $52 million in earnings and a target as low as CA$9.48, showing how Narratives turn forecasts into actionable, personalized insights.</p>
<div class="lb-trans"><p>叙述使您能够通过将公允价值与当前市场价格进行比较，从而做出更明智的决策，并根据背后的理由判断股票是买入还是持有，而不仅仅是依赖数字。当新的财报或新闻发布时，叙述会自动更新，因此您的观点始终反映最新的发展和共识。例如，一位投资者可能认为 Centerra Gold 未来的收益将达到 3.5 亿美元，目标价格接近 14.86 加元，而另一位则预计收益仅为 5200 万美元，目标价格低至 9.48 加元，这显示了叙述如何将预测转化为可操作的个性化见解。</p>
</div><p>Do you think there's more to the story for Centerra Gold? Head over to our Community to see what others are saying!</p>
<div class="lb-trans"><p>您认为 Centerra Gold 的故事还有更多内容吗？前往我们的社区看看其他人怎么说！</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/73d1c2d5-2aa0-4c48-b085-d663db6b41f5/chart/community-fair-value" alt="" original-src="https://images.simplywall.st/company/73d1c2d5-2aa0-4c48-b085-d663db6b41f5/chart/community-fair-value"/></p>
<p>TSX:CG Community Fair Values as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的多伦多证券交易所：CG 社区公允价值</p>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>这篇文章由 Simply Wall St 撰写，内容具有一般性。<strong>我们基于历史数据和分析师预测提供评论，采用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也未考虑您的目标或财务状况。我们的目标是为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中均没有持仓。</em></p>
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在重大扩张公告之后，Centerra Gold 的股票能否继续上涨？