Centerra Gold (NYSE:CGAU) Given New $11.00 Price Target at CIBC

Centerra Gold (NYSE:CGAU) had its price target lifted by investment analysts at CIBC from $9.50 to $11.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “outperformer” rating on the stock. CIBC’s target price would indicate a potential upside of 84.87% from the company’s previous close.

Several other equities analysts have also issued reports on the company. National Bank Financial restated an “outperform overweight” rating on shares of Centerra Gold in a research report on Monday, April 8th. Raymond James decreased their target price on Centerra Gold from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, December 29th. Finally, BMO Capital Markets initiated coverage on Centerra Gold in a research report on Wednesday, February 21st. They set an “outperform” rating for the company. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $9.78.

Centerra Gold Price Performance

CGAU opened at $5.95 on Monday. Centerra Gold has a fifty-two week low of $4.47 and a fifty-two week high of $7.53. The firm’s fifty day moving average price is $5.54 and its two-hundred day moving average price is $5.51. The company has a market capitalization of $1.28 billion, a P/E ratio of -16.08 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). Centerra Gold had a negative net margin of 7.43% and a positive return on equity of 0.62%. The company had revenue of $340.00 million for the quarter. On average, equities research analysts expect that Centerra Gold will post 0.51 EPS for the current fiscal year.

Institutional Trading of Centerra Gold

Several large investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its position in Centerra Gold by 1.2% in the fourth quarter. Van ECK Associates Corp now owns 20,482,153 shares of the company’s stock valued at $122,339,000 after purchasing an additional 244,155 shares during the last quarter. Donald Smith & CO. Inc. grew its stake in Centerra Gold by 27.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 9,879,956 shares of the company’s stock valued at $58,885,000 after acquiring an additional 2,156,920 shares during the period. Ruffer LLP boosted its position in shares of Centerra Gold by 18.5% during the third quarter. Ruffer LLP now owns 8,547,150 shares of the company’s stock valued at $42,371,000 after buying an additional 1,331,400 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Centerra Gold by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 8,068,132 shares of the company’s stock valued at $48,086,000 after buying an additional 36,239 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Centerra Gold by 7.6% during the second quarter. Goldman Sachs Group Inc. now owns 7,793,253 shares of the company’s stock worth $52,605,000 after acquiring an additional 551,257 shares during the period. 55.40% of the stock is owned by institutional investors and hedge funds.

Centerra Gold Company Profile

Centerra Gold Inc, a gold mining company, engages in the acquisition, exploration, development, and operation of gold and copper properties in North America, Turkey, and internationally. The company explores for gold, copper, and molybdenum deposits. Its flagship projects are the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt gold mine located in Turkey.