Desjardins Issues Pessimistic Forecast for Centerra Gold (TSE:CG) Stock Price

Centerra Gold (TSE:CG) had its target price dropped by stock analysts at Desjardins from C$34.00 to C$33.00 in a research report issued to clients and investors on Thursday, BayStreet reports. The brokerage currently has a “hold” rating on the stock. Desjardins‘s target price would suggest a potential upside of 15.06% from the stock’s previous close.

A number of other equities analysts have also commented on CG. TD increased their price target on shares of Centerra Gold from C$31.00 to C$32.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. ATB Cormark Capital Markets lifted their price objective on shares of Centerra Gold from C$26.00 to C$27.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. Raymond James Financial upped their target price on shares of Centerra Gold from C$28.00 to C$29.00 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Finally, Canadian Imperial Bank of Commerce upped their target price on shares of Centerra Gold from C$37.00 to C$38.00 in a research report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$31.43.

Centerra Gold Price Performance

Shares of TSE CG traded down C$2.28 during midday trading on Thursday, hitting C$28.68. 801,907 shares of the company’s stock were exchanged, compared to its average volume of 839,104. The company has a current ratio of 2.42, a quick ratio of 3.24 and a debt-to-equity ratio of 2.11. The business’s fifty day moving average price is C$31.40 and its two-hundred day moving average price is C$26.76. The company has a market cap of C$5.61 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 1.26 and a beta of 1.69. Centerra Gold has a 12-month low of C$14.65 and a 12-month high of C$33.94.

Centerra Gold (TSE:CG) last announced its earnings results on Tuesday, July 28th. The company reported C$0.55 earnings per share for the quarter. Centerra Gold had a net margin of 37.72% and a return on equity of 30.90%. The business had revenue of C$629.00 million for the quarter.

Insider Activity at Centerra Gold

In other Centerra Gold news, insider Yousef Rehman sold 57,636 shares of Centerra Gold stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of C$33.50, for a total transaction of C$1,930,806.00. Following the transaction, the insider directly owned 77,918 shares of the company’s stock, valued at approximately C$2,610,253. This trade represents a 42.52% decrease in their ownership of the stock. Also, Director Wendy Wai Ting Kei acquired 1,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was acquired at an average price of C$29.76 per share, with a total value of C$29,760.00. Following the completion of the acquisition, the director owned 5,172 shares in the company, valued at approximately C$153,918.72. The trade was a 23.97% increase in their position. 0.21% of the stock is owned by corporate insiders.

About Centerra Gold

Centerra Gold Inc is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. The Company also owns the Kemess Project in British Columbia, Canada, the Goldfield Project in Nevada, United States, and owns and operates the Molybdenum Business Unit in the United States and Canada.