Centerra Gold (NYSE:CGAU) Receives New Coverage from Analysts at Scotiabank

Scotiabank started coverage on shares of Centerra Gold (NYSE:CGAU – Get Rating) in a report released on Thursday morning, The Fly reports. The firm issued an outperform rating on the stock.

A number of other research firms also recently weighed in on CGAU. TD Securities reduced their target price on shares of Centerra Gold from C$10.00 to C$8.50 in a research report on Tuesday, May 16th. TheStreet downgraded shares of Centerra Gold from a c rating to a d+ rating in a research report on Friday, March 3rd. Raymond James increased their target price on shares of Centerra Gold from C$10.50 to C$11.00 in a research report on Monday, February 27th. National Bank Financial lowered their target price on shares of Centerra Gold from C$13.00 to C$12.50 in a research note on Thursday, May 18th. Finally, CIBC lowered their target price on shares of Centerra Gold from C$12.00 to C$11.00 in a research note on Tuesday, May 16th.

Centerra Gold Stock Performance

Shares of CGAU stock opened at $5.02 on Thursday. Centerra Gold has a 52-week low of $3.77 and a 52-week high of $8.56. The company has a 50-day simple moving average of $6.56 and a two-hundred day simple moving average of $6.03. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -4.61 and a beta of 0.83.

Centerra Gold (NYSE:CGAU – Get Rating) last issued its quarterly earnings data on Monday, May 15th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16). Centerra Gold had a negative return on equity of 6.24% and a negative net margin of 30.72%. The firm had revenue of $226.53 million during the quarter. During the same period last year, the firm earned $0.19 earnings per share. On average, sell-side analysts forecast that Centerra Gold will post 0.2 EPS for the current fiscal year.

Centerra Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 12th. Stockholders of record on Monday, May 29th will be given a dividend of $0.052 per share. This represents a $0.21 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Thursday, May 25th. Centerra Gold’s dividend payout ratio (DPR) is currently -19.27%.

Institutional Trading of Centerra Gold

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Great West Life Assurance Co. Can raised its position in shares of Centerra Gold by 31.5% during the 3rd quarter. Great West Life Assurance Co. Can now owns 17,862 shares of the company’s stock valued at $78,000 after buying an additional 4,281 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Centerra Gold by 1.8% during the 4th quarter. Bessemer Group Inc. now owns 317,180 shares of the company’s stock valued at $1,642,000 after purchasing an additional 5,723 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Centerra Gold by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 1,158,476 shares of the company’s stock valued at $5,998,000 after purchasing an additional 6,006 shares during the last quarter. UBS Group AG grew its holdings in shares of Centerra Gold by 27.4% during the 1st quarter. UBS Group AG now owns 27,993 shares of the company’s stock valued at $181,000 after purchasing an additional 6,021 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Centerra Gold by 11.0% in the 1st quarter. Bank of New York Mellon Corp now owns 69,201 shares of the company’s stock worth $448,000 after acquiring an additional 6,856 shares during the last quarter. Hedge funds and other institutional investors own 51.63% of the company’s stock.

Centerra Gold Company Profile

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Centerra Gold, Inc engages in the operation, development, exploration and acquisition of gold and copper properties. It operates through the following segments: Kumtor, Mount Milligan, and Öksüt. The company was founded on November 7, 2002 and is headquartered in Toronto, Canada.