CIBC Increases Centerra Gold (NYSE:CGAU) Price Target to $11.00

Centerra Gold (NYSE:CGAU) had its price target boosted by CIBC from $9.50 to $11.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “outperformer” rating on the stock. CIBC’s target price suggests a potential upside of 84.87% from the company’s current price.

Other equities analysts have also issued reports about the company. BMO Capital Markets initiated coverage on Centerra Gold in a report on Wednesday, February 21st. They issued an “outperform” rating for the company. National Bank Financial reissued an “outperform overweight” rating on shares of Centerra Gold in a report on Monday, April 8th. Finally, Raymond James reduced their price objective on Centerra Gold from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, December 29th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $9.78.

Centerra Gold Price Performance

Shares of NYSE:CGAU opened at $5.95 on Monday. The business’s 50-day moving average is $5.54 and its 200-day moving average is $5.51. Centerra Gold has a 1 year low of $4.47 and a 1 year high of $7.53. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -16.08 and a beta of 0.98.

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

Institutional Investors Weigh In On Centerra Gold

A number of institutional investors and hedge funds have recently made changes to their positions in CGAU. Vanguard Group Inc. raised its position in Centerra Gold by 0.5% during the fourth 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. Wellington Management Group LLP grew its stake in shares of Centerra Gold by 2.9% during the fourth quarter. Wellington Management Group LLP now owns 3,070,263 shares of the company’s stock valued at $18,418,000 after buying an additional 87,248 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Centerra Gold by 8.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,164,687 shares of the company’s stock valued at $18,862,000 after buying an additional 247,027 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Centerra Gold by 5.0% during the fourth quarter. Legal & General Group Plc now owns 419,517 shares of the company’s stock valued at $2,517,000 after buying an additional 19,846 shares during the last quarter. Finally, Numerai GP LLC grew its stake in shares of Centerra Gold by 189.5% during the fourth quarter. Numerai GP LLC now owns 239,463 shares of the company’s stock valued at $1,427,000 after buying an additional 156,758 shares during the last quarter. Hedge funds and other institutional investors own 55.40% of the company’s stock.

About Centerra Gold

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.