10 Cheap Hot Stocks to Buy Right Now

7. Centerra Gold Inc. (NYSE:CGAU)

Forward P/E Ratio as of April 16: 10.65

Gain Over the Past 1 Month: 17.56%

Number of Hedge Fund Holders: 16

Centerra Gold Inc. (NYSE:CGAU) acquires, explores, develops, and operates gold and copper properties in North America, Turkey, and internationally. It also explores for molybdenum deposits. Its principal assets include the Mount Milligan gold-copper mine located in British Columbia in Canada, and the Öksüt gold mine located in Türkiye.

Centerra’s Mount Milligan generated $77 million in cash from operations and $65 million in free cash flow in FQ4 2024. Mount Milligan yielded ~38,000 ounces of payable gold and 12.8 million pounds of payable copper. For the full year 2024, the mine produced more than 167,000 ounces of gold and 54 million pounds of copper. This mine is expected to produce between 165,000 and 185,000 ounces of gold and 50 million to 60 million pounds of copper in 2025.

Centerra is working to enhance the long-term value of this asset. Technical studies are progressing well, leading to a decision to move directly to a pre-feasibility study, anticipated to be completed in FQ3 2025. The mine life was also to 2036 due to improved waste storage. Centerra Gold Inc. (NYSE:CGAU) is also optimistic about the potential for increased annual mill throughput by ~10% through upgrades.