Centerra Gold Inc. (NYSE:CGAU) Given Consensus Recommendation of “Buy” by Analysts

Centerra Gold Inc. (NYSE:CGAU) has received a consensus recommendation of “Buy” from the four brokerages that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $9.30.

CGAU has been the subject of several analyst reports. Scotiabank lifted their price objective on Centerra Gold from $8.00 to $9.00 and gave the company a “sector outperform” rating in a report on Thursday, May 23rd. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Centerra Gold in a report on Monday, April 8th. Finally, CIBC upped their price target on shares of Centerra Gold from $9.50 to $11.00 and gave the company an “outperformer” rating in a research report on Monday, April 15th.

Centerra Gold Stock Down 2.6 %

Shares of Centerra Gold stock opened at $6.72 on Friday. The business’s 50 day moving average is $6.72 and its 200-day moving average is $6.00. Centerra Gold has a 12-month low of $4.47 and a 12-month high of $7.51. The stock has a market cap of $1.44 billion, a P/E ratio of 24.89 and a beta of 0.99.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings results on Tuesday, May 14th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Centerra Gold had a return on equity of 5.58% and a net margin of 4.99%. The business had revenue of $305.88 million for the quarter. During the same period in the prior year, the firm earned ($0.24) EPS. On average, sell-side analysts expect that Centerra Gold will post 0.78 EPS for the current year.

Centerra Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 29th were issued a $0.051 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Wednesday, May 29th. Centerra Gold’s payout ratio is 74.07%.

Institutional Investors Weigh In On Centerra Gold

Several hedge funds and other institutional investors have recently modified their holdings of CGAU. Heron Bay Capital Management bought a new position in shares of Centerra Gold in the fourth quarter valued at approximately $77,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Centerra Gold in the 4th quarter worth about $98,000. Virtu Financial LLC purchased a new position in Centerra Gold in the first quarter valued at about $113,000. Hsbc Holdings PLC increased its position in Centerra Gold by 134.2% in the third quarter. Hsbc Holdings PLC now owns 35,587 shares of the company’s stock worth $174,000 after buying an additional 20,389 shares during the last quarter. Finally, Insigneo Advisory Services LLC purchased a new position in shares of Centerra Gold in the third quarter worth about $223,000. Institutional investors own 55.40% of the company’s stock.

About Centerra Gold

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.