Centerra Gold Inc. (NYSE:CGAU) Receives $9.07 Average PT from Brokerages

Shares of Centerra Gold Inc. (NYSE:CGAU) have been assigned an average rating of “Buy” from the five research firms that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $9.55.

A number of equities research analysts recently issued reports on CGAU shares. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Centerra Gold in a research note on Monday, April 8th. BMO Capital Markets initiated coverage on Centerra Gold in a research note on Wednesday, February 21st. They set an “outperform” rating on the stock. CIBC increased their price target on Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a research note on Monday. Finally, Raymond James reduced their price target on Centerra Gold from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday, December 29th.

Centerra Gold Stock Performance

CGAU stock opened at $6.06 on Monday. Centerra Gold has a 1 year low of $4.47 and a 1 year high of $7.46. The stock’s 50 day moving average price is $5.56 and its 200 day moving average price is $5.51. The firm has a market cap of $1.30 billion, a P/E ratio of -16.38 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last posted its earnings results 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 during the quarter. On average, research analysts predict that Centerra Gold will post 0.51 earnings per share for the current year.

Centerra Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were issued a dividend of $0.0518 per share. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.42%. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, March 12th. Centerra Gold’s dividend payout ratio is presently -40.54%.

Institutional Trading of Centerra Gold

Institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. increased its holdings in Centerra Gold by 99.6% in the 3rd quarter. American Century Companies Inc. now owns 1,135,677 shares of the company’s stock valued at $5,552,000 after purchasing an additional 566,652 shares in the last quarter. Vanguard Group Inc. increased its holdings in Centerra Gold by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 8,031,893 shares of the company’s stock valued at $39,356,000 after purchasing an additional 220,263 shares in the last quarter. Deutsche Bank AG boosted its position in Centerra Gold by 818.1% in the 3rd quarter. Deutsche Bank AG now owns 169,704 shares of the company’s stock valued at $832,000 after buying an additional 151,220 shares during the last quarter. Hsbc Holdings PLC boosted its position in Centerra Gold by 134.2% in the 3rd quarter. Hsbc Holdings PLC now owns 35,587 shares of the company’s stock valued at $174,000 after buying an additional 20,389 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in Centerra Gold by 91.9% in the 3rd quarter. Mackenzie Financial Corp now owns 3,384,834 shares of the company’s stock valued at $15,775,000 after buying an additional 1,621,158 shares during the last quarter. 55.40% of the stock is currently 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.