Scotiabank Cuts Centerra Gold (NYSE:CGAU) Price Target to $9.00

Centerra Gold (NYSE:CGAU) had its price objective cut by equities research analysts at Scotiabank from $10.00 to $9.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 52.54% from the company’s current price. Scotiabank also issued estimates for Centerra Gold’s FY2025 earnings at $0.45 EPS.

Separately, Desjardins upgraded Centerra Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Centerra Gold Price Performance

Shares of NYSE:CGAU traded down $0.11 during midday trading on Wednesday, hitting $5.90. The company had a trading volume of 83,659 shares, compared to its average volume of 616,069. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 12.29 and a beta of 0.90. Centerra Gold has a 12-month low of $4.47 and a 12-month high of $7.82. The company has a fifty day moving average of $5.92 and a two-hundred day moving average of $6.58.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The company had revenue of $323.93 million during the quarter. Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. During the same period last year, the business earned $0.20 EPS. Research analysts expect that Centerra Gold will post 0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Centerra Gold

A number of institutional investors have recently bought and sold shares of CGAU. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Centerra Gold by 36.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock valued at $31,514,000 after purchasing an additional 1,175,000 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Centerra Gold by 145.6% in the 3rd quarter. Jane Street Group LLC now owns 419,992 shares of the company’s stock valued at $3,015,000 after acquiring an additional 249,004 shares during the last quarter. Geode Capital Management LLC lifted its stake in Centerra Gold by 378.7% in the third quarter. Geode Capital Management LLC now owns 454,939 shares of the company’s stock worth $4,152,000 after purchasing an additional 359,905 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Centerra Gold by 29.0% during the second quarter. Renaissance Technologies LLC now owns 327,800 shares of the company’s stock valued at $2,203,000 after buying an additional 73,600 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Centerra Gold during the third quarter valued at approximately $4,454,000. 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.