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

Centerra Gold Inc. (NYSE:CGAU) has earned an average recommendation of “Moderate Buy” from the four ratings firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $11.00.

Several research firms have issued reports on CGAU. Desjardins raised shares of Centerra Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Scotiabank decreased their price target on shares of Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, January 15th.

Centerra Gold Price Performance

Centerra Gold stock opened at $6.65 on Monday. Centerra Gold has a 12-month low of $4.47 and a 12-month high of $7.82. The stock has a market capitalization of $1.40 billion, a P/E ratio of 13.85 and a beta of 0.91. The firm’s 50-day moving average is $6.00 and its two-hundred day moving average is $6.51.

Institutional Investors Weigh In On Centerra Gold

Hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Centerra Gold by 36.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock worth $31,514,000 after acquiring an additional 1,175,000 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Centerra Gold by 145.6% in the third quarter. Jane Street Group LLC now owns 419,992 shares of the company’s stock worth $3,015,000 after acquiring an additional 249,004 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Centerra Gold by 378.7% in the third quarter. Geode Capital Management LLC now owns 454,939 shares of the company’s stock worth $4,152,000 after acquiring an additional 359,905 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Centerra Gold in the third quarter worth approximately $4,454,000. Finally, HighTower Advisors LLC acquired a new position in Centerra Gold during the third quarter valued at approximately $127,000. 55.40% of the stock is owned by institutional investors and hedge funds.

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.