Centerra Gold (TSE:CG) Cut to Hold at Cibc World Mkts

Centerra Gold (TSE:CG) was downgraded by equities researchers at Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

A number of other equities research analysts also recently commented on CG. CIBC downgraded Centerra Gold from an “outperform” rating to a “neutral” rating and upped their price objective for the company from C$11.00 to C$13.00 in a report on Wednesday. Cormark upped their price objective on Centerra Gold from C$13.00 to C$13.90 in a report on Wednesday, May 15th. National Bankshares upped their price objective on Centerra Gold from C$11.25 to C$12.00 and gave the company an “outperform” rating in a report on Monday, June 10th. National Bank Financial reiterated an “outperform overweight” rating on shares of Centerra Gold in a report on Monday, April 8th. Finally, Raymond James increased their price target on Centerra Gold from C$11.50 to C$12.50 in a report on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Centerra Gold currently has a consensus rating of “Moderate Buy” and an average price target of C$11.29.

Centerra Gold Price Performance

Shares of CG stock opened at C$9.64 on Wednesday. The stock’s fifty day simple moving average is C$9.35 and its 200 day simple moving average is C$8.22. The company has a debt-to-equity ratio of 1.29, a current ratio of 3.22 and a quick ratio of 3.24. The firm has a market cap of C$2.07 billion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 1.26 and a beta of 1.19. Centerra Gold has a one year low of C$6.07 and a one year high of C$10.25.

Centerra Gold (TSE:CG) last released its earnings results on Tuesday, May 14th. The company reported C$0.19 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.21 by C($0.02). The firm had revenue of C$412.37 million for the quarter. Centerra Gold had a return on equity of 3.40% and a net margin of 4.99%. On average, analysts expect that Centerra Gold will post 0.887963 earnings per share for the current fiscal year.

Insider Transactions at Centerra Gold

In other news, Director Craig Stephen Macdougall acquired 10,500 shares of Centerra Gold stock in a transaction dated Thursday, May 30th. The stock was bought at an average cost of C$9.56 per share, with a total value of C$100,330.65. Insiders bought 11,012 shares of company stock valued at $105,101 over the last three months. Company insiders own 0.23% of the company’s stock.

Centerra Gold Company Profile

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.