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

Centerra Gold (NYSE:CGAU) had its price target raised by CIBC from $9.50 to $11.00 in a research note released on Monday morning, Benzinga reports. They currently have an outperformer rating on the stock.

Several other brokerages have also recently commented on CGAU. National Bank Financial reiterated an outperform overweight rating on shares of Centerra Gold in a research report on Monday, April 8th. BMO Capital Markets began coverage on shares of Centerra Gold in a research report on Wednesday, February 21st. They issued an outperform rating on the stock. Finally, Raymond James dropped their price target on shares of Centerra Gold from $12.00 to $11.00 and set an outperform rating on the stock in a research report on Friday, December 29th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of Buy and an average target price of $9.78.

Centerra Gold Stock Up 1.8 %

Shares of NYSE CGAU opened at $6.06 on Monday. Centerra Gold has a fifty-two week low of $4.47 and a fifty-two week high of $7.46. The firm’s 50-day simple moving average is $5.56 and its 200 day simple moving average is $5.51. The stock has a market cap of $1.30 billion, a P/E ratio of -16.38 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings data 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). Centerra Gold had a negative net margin of 7.43% and a positive return on equity of 0.62%. The company had revenue of $340.00 million for the quarter. On average, sell-side analysts anticipate that Centerra Gold will post 0.51 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 13th were paid a dividend of $0.0518 per share. This represents a $0.21 annualized dividend and a yield of 3.42%. The ex-dividend date was Tuesday, March 12th. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s payout ratio is -40.54%.

Hedge Funds Weigh In On Centerra Gold

Institutional investors and hedge funds have recently bought and sold shares of the business. Qube Research & Technologies Ltd bought a new stake in Centerra Gold during the third quarter worth approximately $31,000. Versor Investments LP bought a new stake in Centerra Gold during the third quarter worth approximately $52,000. First Trust Advisors LP bought a new stake in Centerra Gold during the fourth quarter worth approximately $64,000. Heron Bay Capital Management bought a new stake in Centerra Gold during the fourth quarter worth approximately $77,000. Finally, Trexquant Investment LP bought a new stake in Centerra Gold during the third quarter worth approximately $77,000. 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.