Centerra Gold (TSE:CG) Reaches New 1-Year High After Analyst Upgrade

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Centerra Gold Inc. (TSE:CG) shares reached a new 52-week high during trading on Friday after National Bank Financial raised their price target on the stock from C$14.50 to C$15.00. National Bank Financial currently has an outperform rating on the stock. Centerra Gold traded as high as C$14.24 and last traded at C$13.90, with a volume of 151132 shares changing hands. The stock had previously closed at C$13.52.

Several other brokerages have also commented on CG. CIBC upped their price objective on shares of Centerra Gold from C$12.25 to C$14.00 in a report on Thursday, April 23rd. Canaccord Genuity upped their price target on Centerra Gold from C$16.00 to C$17.50 in a research note on Wednesday. Bank of America lowered their price target on Centerra Gold from C$14.00 to C$12.00 in a research report on Wednesday, March 4th. Scotiabank upgraded Centerra Gold from a “sector perform” rating to an “outperform” rating in a report on Monday, May 4th. Finally, TD Securities upgraded shares of Centerra Gold from a “hold” rating to a “buy” rating and raised their price objective for the company from C$12.50 to C$14.00 in a report on Wednesday, April 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of C$13.67.

In related news, Senior Officer Yousef Rehman sold 3,210 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of C$13.53, for a total value of C$43,431.30. Following the sale, the insider now directly owns 16,308 shares of the company’s stock, valued at C$220,647.24.

The firm’s 50 day simple moving average is C$11.15 and its 200-day simple moving average is C$10.21. The company has a market capitalization of $4.03 billion and a PE ratio of -31.82. The company has a quick ratio of 1.17, a current ratio of 4.32 and a debt-to-equity ratio of 7.52.

Centerra Gold (TSE:CG) last released its quarterly earnings data on Friday, May 1st. The company reported C$0.22 EPS for the quarter, missing the consensus estimate of C$0.26 by C($0.04). The business had revenue of C$502.07 million during the quarter. As a group, sell-side analysts anticipate that Centerra Gold Inc. will post 1.37 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, June 4th will be given a dividend of $0.04 per share. The ex-dividend date is Wednesday, May 20th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.16%. Centerra Gold’s payout ratio is currently -36.78%.

About Centerra Gold (TSE:CG)

Centerra Gold Inc, a gold mining and exploration company, engages in the acquisition, exploration, development, and operation of gold and copper properties in North America, Asia, and internationally. Its flagship projects include the 100% owned Kumtor gold mine located in the Kyrgyz Republic; and the Mount Milligan gold-copper mine located in British Columbia, Canada.

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