Centerra Gold Inc. (NYSE:CGAU) Receives $9.30 Consensus PT from Analysts

Centerra Gold Inc. (NYSE:CGAU) has been assigned a consensus rating of “Buy” from the four brokerages that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have issued a report on the stock in the last year is $9.30.

CGAU has been the topic of a number of recent analyst reports. Scotiabank increased their price target on Centerra Gold from $8.00 to $9.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 23rd. CIBC lifted their price target on shares of Centerra Gold from $9.50 to $11.00 and gave the company an “outperformer” rating in a research note on Monday, April 15th. Finally, National Bank Financial restated an “outperform overweight” rating on shares of Centerra Gold in a research report on Monday, April 8th.

Institutional Investors Weigh In On Centerra Gold

Hedge funds have recently modified their holdings of the business. Deutsche Bank AG increased its holdings in shares of Centerra Gold by 818.1% in the third quarter. Deutsche Bank AG now owns 169,704 shares of the company’s stock valued at $832,000 after purchasing an additional 151,220 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Centerra Gold by 134.2% in the 3rd quarter. Hsbc Holdings PLC now owns 35,587 shares of the company’s stock worth $174,000 after acquiring an additional 20,389 shares during the last quarter. Quadrature Capital Ltd raised its holdings in shares of Centerra Gold by 169.2% during the 3rd quarter. Quadrature Capital Ltd now owns 140,800 shares of the company’s stock worth $691,000 after acquiring an additional 88,500 shares during the period. Insigneo Advisory Services LLC acquired a new position in shares of Centerra Gold during the 3rd quarter valued at about $223,000. Finally, American Century Companies Inc. grew its holdings in shares of Centerra Gold by 99.6% in the third quarter. American Century Companies Inc. now owns 1,135,677 shares of the company’s stock valued at $5,552,000 after purchasing an additional 566,652 shares during the period. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Centerra Gold Price Performance

CGAU opened at $6.66 on Friday. The firm has a fifty day moving average price of $6.74 and a 200 day moving average price of $6.01. Centerra Gold has a 1 year low of $4.47 and a 1 year high of $7.51. The stock has a market cap of $1.42 billion, a P/E ratio of 24.65 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Tuesday, May 14th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Centerra Gold had a net margin of 4.99% and a return on equity of 5.58%. The firm had revenue of $305.88 million during the quarter. During the same period last year, the firm earned ($0.24) earnings per share. Equities analysts expect that Centerra Gold will post 0.78 EPS for the current year.

Centerra Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Wednesday, May 29th were given a dividend of $0.051 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Wednesday, May 29th. Centerra Gold’s payout ratio is 74.07%.

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.