Centerra Gold Inc. (NYSE:CGAU) Receives $11.00 Average Price Target from Analysts

Centerra Gold Inc. (NYSE:CGAU) has been assigned an average rating of “Moderate Buy” from the four brokerages that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $11.00.

A number of brokerages have recently commented on CGAU. Scotiabank cut their price objective on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a research report on Wednesday. Desjardins upgraded Centerra Gold to a “moderate buy” rating in a research report on Thursday, October 31st.

Centerra Gold Price Performance

CGAU opened at $5.83 on Thursday. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 12.14 and a beta of 0.90. Centerra Gold has a 1-year low of $4.47 and a 1-year high of $7.82. The business has a 50 day moving average price of $5.88 and a two-hundred day moving average price of $6.57.

Centerra Gold (NYSE:CGAU) last released its earnings results on Thursday, October 31st. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. The firm had revenue of $323.93 million during the quarter. During the same period last year, the business earned $0.20 EPS. Equities analysts expect that Centerra Gold will post 0.77 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $0.052 dividend. This represents a $0.21 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Wednesday, November 13th. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio (DPR) is presently 45.83%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CGAU. Connor Clark & Lunn Investment Management Ltd. increased its position in Centerra Gold by 36.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock valued at $31,514,000 after acquiring an additional 1,175,000 shares in the last quarter. Bank of Montreal Can lifted its stake in Centerra Gold by 59.0% in the third quarter. Bank of Montreal Can now owns 3,869,035 shares of the company’s stock valued at $28,690,000 after buying an additional 1,435,794 shares in the last quarter. American Century Companies Inc. lifted its stake in Centerra Gold by 132.8% in the second quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock valued at $12,345,000 after buying an additional 1,047,142 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Centerra Gold by 111.3% in the second quarter. Mackenzie Financial Corp now owns 1,493,717 shares of the company’s stock valued at $10,046,000 after buying an additional 786,688 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Centerra Gold by 94.6% in the second quarter. Marshall Wace LLP now owns 1,037,839 shares of the company’s stock worth $6,974,000 after purchasing an additional 504,636 shares in the last quarter. 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.