Analysts Set Centerra Gold Inc. (NYSE:CGAU) Target Price at $11.00

Shares of Centerra Gold Inc. (NYSE:CGAU) have earned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $11.00.

A number of research analysts have recently commented on CGAU shares. CIBC reiterated a “neutral” rating and set a $13.00 target price (up from $11.00) on shares of Centerra Gold in a research report on Wednesday, July 10th. Desjardins upgraded shares of Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st. Finally, Cibc World Mkts lowered Centerra Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th.

Centerra Gold Price Performance

CGAU opened at $6.37 on Friday. The firm has a market cap of $1.35 billion, a P/E ratio of 13.27 and a beta of 0.98. Centerra Gold has a 1-year low of $4.47 and a 1-year high of $7.82. The company has a 50 day simple moving average of $7.07 and a two-hundred day simple moving average of $6.87.

Centerra Gold (NYSE:CGAU) last issued its earnings results on Thursday, October 31st. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). Centerra Gold had a net margin of 8.31% and a return on equity of 10.39%. The business had revenue of $323.93 million for the quarter. During the same quarter in the previous year, the business earned $0.20 earnings per share. Equities analysts anticipate that Centerra Gold will post 0.84 earnings per share for the current year.

Centerra Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.052 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 dividend on an annualized basis and a yield of 3.27%. Centerra Gold’s dividend payout ratio (DPR) is 41.67%.

Institutional Trading of Centerra Gold

Several institutional investors have recently modified their holdings of CGAU. Acadian Asset Management LLC raised its position in Centerra Gold by 594.6% during the second quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company’s stock worth $59,532,000 after acquiring an additional 7,586,370 shares during the last quarter. Bank of Montreal Can lifted its position in Centerra Gold by 158.9% during the second quarter. Bank of Montreal Can now owns 2,433,241 shares of the company’s stock worth $16,881,000 after buying an additional 1,493,349 shares during the period. American Century Companies Inc. increased its stake in shares of Centerra Gold by 132.8% during the 2nd quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock valued at $12,345,000 after acquiring an additional 1,047,142 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Centerra Gold in the second quarter worth approximately $6,772,000. Finally, Donald Smith & CO. Inc. raised its stake in Centerra Gold by 8.8% during the first quarter. Donald Smith & CO. Inc. now owns 10,747,290 shares of the company’s stock worth $63,516,000 after purchasing an additional 867,334 shares during the period. Hedge funds and other institutional investors own 55.40% of the company’s stock.

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.