Raymond James Lowers Centerra Gold (TSE:CG) Price Target to C$13.00

Centerra Gold (TSE:CG) had its target price cut by Raymond James from C$13.50 to C$13.00 in a research report released on Monday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research firms have also recently issued reports on CG. CIBC cut shares of Centerra Gold from an outperform rating to a neutral rating and upped their price target for the company from C$11.00 to C$13.00 in a report on Wednesday, July 10th. Canaccord Genuity Group increased their price target on shares of Centerra Gold from C$11.50 to C$12.50 in a research report on Tuesday, July 23rd. National Bankshares lifted their price target on Centerra Gold from C$11.25 to C$12.00 and gave the stock an outperform rating in a research note on Monday, June 10th. Finally, Cibc World Mkts cut Centerra Gold from a strong-buy rating to a hold rating in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Centerra Gold has a consensus rating of Moderate Buy and a consensus target price of C$11.83.

Centerra Gold Stock Up 0.4 %

Shares of TSE CG opened at C$9.81 on Monday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.24 and a current ratio of 3.79. Centerra Gold has a 1 year low of C$6.07 and a 1 year high of C$10.54. The stock’s 50-day simple moving average is C$9.44 and its 200-day simple moving average is C$9.09. The firm has a market cap of C$2.09 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 1.26 and a beta of 1.23.

Centerra Gold (TSE:CG) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.22 by C$0.09. The company had revenue of C$386.27 million for the quarter. Centerra Gold had a return on equity of 7.98% and a net margin of 10.69%.

Centerra Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.28 dividend on an annualized basis and a yield of 2.85%. Centerra Gold’s payout ratio is currently 34.15%.

Insider Activity

In related news, Senior Officer Claudia D’orazio sold 29,388 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of C$10.20, for a total value of C$299,757.60. In other Centerra Gold news, Senior Officer Yousef Rehman sold 71,419 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$10.03, for a total transaction of C$716,332.57. Also, Senior Officer Claudia D’orazio sold 29,388 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of C$10.20, for a total transaction of C$299,757.60. Corporate insiders own 0.17% of the company’s stock.

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.