Raymond James Lowers Centerra Gold (TSE:CG) Price Target to C$13.00

Centerra Gold (TSE:CG) had its price target dropped by analysts at Raymond James from C$13.50 to C$13.00 in a research note issued to investors on Monday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Raymond James’ target price suggests a potential upside of 34.99% from the stock’s previous close.

CG has been the topic of several other research reports. National Bankshares boosted their price objective on Centerra Gold from C$11.25 to C$12.00 and gave the stock an “outperform” rating in a research report on Monday, June 10th. Canaccord Genuity Group increased their price objective on Centerra Gold from C$11.50 to C$12.50 in a report on Tuesday, July 23rd. CIBC lowered Centerra Gold from an “outperform” rating to a “neutral” rating and raised their price objective for the company from C$11.00 to C$13.00 in a research report on Wednesday, July 10th. Finally, Cibc World Mkts lowered Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$11.83.

Centerra Gold Price Performance

Shares of Centerra Gold stock traded down C$0.40 during trading on Monday, reaching C$9.63. The company’s stock had a trading volume of 503,501 shares, compared to its average volume of 752,974. The stock has a 50-day moving average price of C$9.39 and a two-hundred day moving average price of C$9.03. The company has a current ratio of 3.79, a quick ratio of 3.24 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of C$2.05 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 1.26 and a beta of 1.23. Centerra Gold has a one year low of C$6.07 and a one year high of C$10.54.

Centerra Gold (TSE:CG) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.22 by C$0.09. The company had revenue of C$386.27 million for the quarter. Centerra Gold had a return on equity of 7.98% and a net margin of 10.69%.

Insider Buying and Selling

In other news, Senior Officer Claudia D’orazio sold 29,388 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of C$10.20, for a total value of C$299,757.60. In related news, Senior Officer Yousef Rehman sold 71,419 shares of Centerra Gold stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of C$10.03, for a total value of C$716,332.57. Also, Senior Officer Claudia D’orazio sold 29,388 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of C$10.20, for a total transaction of C$299,757.60. 0.17% of the stock is owned by insiders.

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.