Analysts Set Centerra Gold Inc. (NYSE:CGAU) Price Target at $11.00

Centerra Gold Inc. (NYSE:CGAU) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $11.00.

Separately, Desjardins upgraded Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st.

Centerra Gold Stock Performance

Shares of NYSE:CGAU opened at $5.62 on Friday. The company has a market capitalization of $1.18 billion, a PE ratio of 11.71 and a beta of 0.89. The stock has a fifty day moving average of $6.36 and a 200-day moving average of $6.70. Centerra Gold has a one year low of $4.47 and a one year high of $7.82.

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

Centerra Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.052 per share. This represents a $0.21 annualized dividend and a yield of 3.70%. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date was Wednesday, November 13th. Centerra Gold’s dividend payout ratio is presently 41.67%.

Hedge Funds Weigh In On Centerra Gold

Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC boosted its stake in Centerra Gold by 594.6% during the 2nd quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company’s stock valued at $59,532,000 after purchasing an additional 7,586,370 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Centerra Gold by 36.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock valued at $31,514,000 after acquiring an additional 1,175,000 shares during the period. Bank of Montreal Can grew its stake in shares of Centerra Gold by 59.0% in the third quarter. Bank of Montreal Can now owns 3,869,035 shares of the company’s stock worth $28,690,000 after acquiring an additional 1,435,794 shares during the last quarter. American Century Companies Inc. increased its position in Centerra Gold by 132.8% during the second quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock worth $12,345,000 after acquiring an additional 1,047,142 shares during the period. Finally, Mackenzie Financial Corp raised its stake in Centerra Gold by 111.3% during the 2nd quarter. Mackenzie Financial Corp now owns 1,493,717 shares of the company’s stock valued at $10,046,000 after purchasing an additional 786,688 shares during the last quarter. Institutional investors own 55.40% of the company’s stock.

Centerra Gold Company Profile

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.