Analysts Set Centerra Gold Inc. (NYSE:CGAU) Target Price at $17.50

Centerra Gold Inc. (NYSE:CGAU) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $17.50.

Several research analysts recently commented on CGAU shares. Wall Street Zen cut Centerra Gold from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings lowered Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Scotiabank restated an “outperform” rating on shares of Centerra Gold in a report on Tuesday, August 4th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Centerra Gold in a research report on Thursday, July 30th.

Centerra Gold Stock Performance

Shares of CGAU stock opened at $21.54 on Friday. Centerra Gold has a 12 month low of $6.99 and a 12 month high of $22.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.42 and a quick ratio of 1.49. The firm has a market capitalization of $4.22 billion, a P/E ratio of 6.88, a P/E/G ratio of 0.80 and a beta of 0.80. The company’s fifty day moving average price is $17.04 and its two-hundred day moving average price is $17.76.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $442.71 million during the quarter, compared to analysts’ expectations of $394.27 million. Centerra Gold had a net margin of 36.92% and a return on equity of 15.35%. On average, research analysts anticipate that Centerra Gold will post 1.63 earnings per share for the current fiscal year.

Centerra Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, August 19th. Centerra Gold’s payout ratio is 6.71%.

Institutional Trading of Centerra Gold

Several institutional investors have recently added to or reduced their stakes in CGAU. Caisse de depot et placement du Quebec acquired a new position in Centerra Gold during the 2nd quarter worth $3,152,000. Man Group plc acquired a new stake in shares of Centerra Gold in the 2nd quarter valued at about $1,304,000. Polar Asset Management Partners Inc. bought a new position in shares of Centerra Gold during the second quarter worth about $1,475,000. Legal & General Group Plc bought a new position in shares of Centerra Gold during the second quarter worth about $4,797,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Centerra Gold during the second quarter worth about $16,428,000. 55.40% of the stock is owned by institutional investors and hedge funds.

Centerra Gold Company Profile

Centerra Gold Inc is a gold mining company incorporated in Canada and headquartered in Toronto. The company specializes in the exploration, development and operation of precious metals properties, with a focus on gold production. Centerra’s portfolio includes the Mount Milligan mine in British Columbia, Canada, and the Otjikoto mine in Namibia. Both operations produce gold and copper concentrates and employ modern mining methods and processing facilities to optimize recovery rates and minimize environmental impact.

In addition to its producing assets, Centerra is advancing the development of its Greenstone Gold Project in Ontario, Canada, which, upon completion, is expected to become one of Canada’s largest gold mines.