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

Centerra Gold Inc. (NYSE:CGAU) has earned a consensus rating of “Hold” from the five brokerages that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $11.00.

CGAU has been the topic of a number of recent analyst reports. Scotiabank cut their target price on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, January 15th. Desjardins downgraded Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday, February 13th. Finally, Cormark downgraded Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 26th.

Institutional Trading of Centerra Gold

Several institutional investors have recently modified their holdings of CGAU. Versor Investments LP lifted its holdings in shares of Centerra Gold by 40.9% in the third quarter. Versor Investments LP now owns 146,700 shares of the company’s stock valued at $1,053,000 after buying an additional 42,600 shares during the period. Plato Investment Management Ltd purchased a new stake in Centerra Gold in the 3rd quarter worth about $412,000. PCJ Investment Counsel Ltd. lifted its stake in Centerra Gold by 59.6% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 434,628 shares of the company’s stock worth $3,120,000 after acquiring an additional 162,382 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Centerra Gold by 36.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock worth $31,514,000 after purchasing an additional 1,175,000 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Centerra Gold by 59.0% during the 3rd quarter. Bank of Montreal Can now owns 3,869,035 shares of the company’s stock worth $28,690,000 after purchasing an additional 1,435,794 shares in the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

Centerra Gold Stock Performance

Centerra Gold stock opened at $5.77 on Friday. The stock’s 50 day moving average price is $6.10 and its 200 day moving average price is $6.43. The firm has a market capitalization of $1.21 billion, a PE ratio of 16.01 and a beta of 0.92. Centerra Gold has a one year low of $5.46 and a one year high of $7.82.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Thursday, February 20th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. The business had revenue of $302.40 million during the quarter, compared to analyst estimates of $316.92 million. On average, analysts forecast that Centerra Gold will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.07 dividend. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date is Thursday, March 13th. This represents a $0.28 annualized dividend and a dividend yield of 4.86%. Centerra Gold’s dividend payout ratio is presently 52.78%.

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.