Brokerages Set Centerra Gold Inc. (NYSE:CGAU) PT at $9.30

Centerra Gold Inc. (NYSE:CGAUGet Free Report) has earned an average rating of “Buy” from the four brokerages that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $9.30.

CGAU has been the topic of a number of recent research reports. National Bank Financial reissued an “outperform overweight” rating on shares of Centerra Gold in a research report on Monday, April 8th. CIBC raised their price objective on Centerra Gold from $9.50 to $11.00 and gave the company an “outperformer” rating in a research report on Monday, April 15th. Scotiabank raised their price objective on Centerra Gold from $8.00 to $9.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 23rd. Finally, BMO Capital Markets began coverage on Centerra Gold in a research report on Wednesday, February 21st. They set an “outperform” rating on the stock.

View Our Latest Stock Report on Centerra Gold

Institutional Investors Weigh In On Centerra Gold

Several institutional investors have recently added to or reduced their stakes in the business. CIBC Asset Management Inc boosted its holdings in Centerra Gold by 2.1% in the fourth quarter. CIBC Asset Management Inc now owns 211,525 shares of the company’s stock worth $1,267,000 after acquiring an additional 4,327 shares in the last quarter. CoreCommodity Management LLC boosted its holdings in Centerra Gold by 2.7% in the fourth quarter. CoreCommodity Management LLC now owns 348,100 shares of the company’s stock worth $2,085,000 after acquiring an additional 9,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Centerra Gold by 7.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 174,426 shares of the company’s stock worth $1,142,000 after purchasing an additional 12,257 shares during the last quarter. Heron Bay Capital Management purchased a new position in shares of Centerra Gold in the fourth quarter worth about $77,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Centerra Gold in the fourth quarter worth about $98,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

Centerra Gold Stock Up 2.7 %

CGAU stock opened at $7.14 on Tuesday. The business’s fifty day simple moving average is $6.48 and its two-hundred day simple moving average is $5.88. Centerra Gold has a twelve month low of $4.47 and a twelve month high of $7.51. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 26.44 and a beta of 0.99.

Centerra Gold (NYSE:CGAUGet Free Report) last posted its quarterly earnings results on Tuesday, May 14th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Centerra Gold had a return on equity of 5.61% and a net margin of 4.99%. The firm had revenue of $305.88 million for the quarter. During the same quarter last year, the firm earned ($0.24) earnings per share. Research analysts expect that Centerra Gold will post 0.78 EPS for the current year.

Centerra Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 29th will be issued a $0.051 dividend. This represents a $0.20 annualized dividend and a yield of 2.86%. The ex-dividend date is Wednesday, May 29th. Centerra Gold’s dividend payout ratio is presently 74.07%.

Centerra Gold Company Profile

(Get Free Report

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.

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