Centerra Gold Inc. (NYSE:CGAU) Receives $9.30 Average Price Target from Analysts

Shares of Centerra Gold Inc. (NYSE:CGAU) have earned an average recommendation of “Buy” from the four ratings firms that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $9.30.

Several brokerages recently commented on CGAU. National Bank Financial reissued an “outperform overweight” rating on shares of Centerra Gold in a research report on Monday, April 8th. Scotiabank raised their price target on shares of Centerra Gold from $8.00 to $9.00 and gave the company a “sector outperform” rating in a report on Thursday, May 23rd. Finally, CIBC raised their price target on shares of Centerra Gold from $9.50 to $11.00 and gave the company an “outperformer” rating in a report on Monday, April 15th.

Hedge Funds Weigh In On Centerra Gold

Several institutional investors have recently made changes to their positions in CGAU. Deutsche Bank AG lifted its stake in shares of Centerra Gold by 818.1% in the 3rd quarter. Deutsche Bank AG now owns 169,704 shares of the company’s stock worth $832,000 after purchasing an additional 151,220 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Centerra Gold by 134.2% in the 3rd quarter. Hsbc Holdings PLC now owns 35,587 shares of the company’s stock worth $174,000 after purchasing an additional 20,389 shares during the period. Quadrature Capital Ltd lifted its stake in shares of Centerra Gold by 169.2% in the 3rd quarter. Quadrature Capital Ltd now owns 140,800 shares of the company’s stock worth $691,000 after purchasing an additional 88,500 shares during the period. Insigneo Advisory Services LLC bought a new position in shares of Centerra Gold in the 3rd quarter worth approximately $223,000. Finally, American Century Companies Inc. raised its stake in Centerra Gold by 99.6% during the 3rd quarter. American Century Companies Inc. now owns 1,135,677 shares of the company’s stock worth $5,552,000 after acquiring an additional 566,652 shares during the period. Institutional investors own 55.40% of the company’s stock.

Centerra Gold Stock Performance

Shares of CGAU stock opened at $6.77 on Friday. Centerra Gold has a one year low of $4.47 and a one year high of $7.51. The company’s 50-day moving average is $6.75 and its 200 day moving average is $6.02. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 25.07 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings data on Tuesday, May 14th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Centerra Gold had a net margin of 4.99% and a return on equity of 5.58%. The firm had revenue of $305.88 million for the quarter. During the same quarter last year, the business earned ($0.24) earnings per share. As a group, research analysts predict that Centerra Gold will post 0.78 earnings per share for the current fiscal year.

Centerra Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th were paid a $0.051 dividend. This represents a $0.20 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Wednesday, May 29th. Centerra Gold’s dividend payout ratio (DPR) is presently 74.07%.

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.