Centerra Gold Inc. (NYSE:CGAU) Receives $9.07 Average Target Price from Analysts

Shares of Centerra Gold Inc. (NYSE:CGAU) have received a consensus recommendation of “Buy” from the five analysts that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have covered the stock in the last year is $9.55.

Several research analysts have issued reports on CGAU shares. National Bank Financial restated an “outperform overweight” rating on shares of Centerra Gold in a research report on Monday, April 8th. BMO Capital Markets initiated coverage on shares of Centerra Gold in a research note on Wednesday, February 21st. They issued an “outperform” rating for the company. Raymond James decreased their price objective on shares of Centerra Gold from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, December 29th. Finally, CIBC raised their price objective on shares of Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a research note on Monday.

Centerra Gold Stock Performance

Centerra Gold stock opened at $6.06 on Monday. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -16.38 and a beta of 0.98. Centerra Gold has a 1 year low of $4.47 and a 1 year high of $7.46. The firm’s 50 day moving average price is $5.56 and its two-hundred day moving average price is $5.51.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). The business had revenue of $340.00 million during the quarter. Centerra Gold had a positive return on equity of 0.62% and a negative net margin of 7.43%. As a group, equities analysts predict that Centerra Gold will post 0.51 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 13th were paid a $0.0518 dividend. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, March 12th. This represents a $0.21 dividend on an annualized basis and a yield of 3.42%. Centerra Gold’s dividend payout ratio (DPR) is currently -40.54%.

Institutional Investors Weigh In On Centerra Gold

A number of institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp boosted its stake in shares of Centerra Gold by 1.2% during the 4th quarter. Van ECK Associates Corp now owns 20,482,153 shares of the company’s stock valued at $122,339,000 after buying an additional 244,155 shares during the period. Donald Smith & CO. Inc. boosted its stake in shares of Centerra Gold by 27.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 9,879,956 shares of the company’s stock valued at $58,885,000 after buying an additional 2,156,920 shares during the period. Ruffer LLP raised its holdings in shares of Centerra Gold by 18.5% during the 3rd quarter. Ruffer LLP now owns 8,547,150 shares of the company’s stock valued at $42,371,000 after purchasing an additional 1,331,400 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Centerra Gold by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 8,068,132 shares of the company’s stock valued at $48,086,000 after purchasing an additional 36,239 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Centerra Gold by 7.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 7,793,253 shares of the company’s stock valued at $52,605,000 after purchasing an additional 551,257 shares in the last quarter. Institutional investors and hedge funds own 55.40% 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.