Centerra Gold (NYSE:CGAU) PT Raised to $9.00

Centerra Gold (NYSE:CGAU) had its target price lifted by Scotiabank from $8.00 to $9.00 in a research note published on Thursday morning, Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Other research analysts have also issued research reports about the company. National Bank Financial reiterated an outperform overweight rating on shares of Centerra Gold in a research report on Monday, April 8th. CIBC lifted their price target on Centerra Gold from $9.50 to $11.00 and gave the stock an outperformer rating in a research report on Monday, April 15th. Finally, BMO Capital Markets began coverage on Centerra Gold in a research report on Wednesday, February 21st. They set an outperform rating for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $9.34.

Centerra Gold Stock Up 2.0 %

Shares of Centerra Gold stock opened at $7.02 on Thursday. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 26.00 and a beta of 0.94. The business has a 50-day moving average price of $6.25 and a 200-day moving average price of $5.79. Centerra Gold has a twelve month low of $4.47 and a twelve month high of $7.51.

Centerra Gold (NYSE:CGAU) last issued 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). The firm had revenue of $305.88 million for the quarter. Centerra Gold had a net margin of 4.99% and a return on equity of 5.61%. During the same period last year, the firm posted ($0.24) EPS. On average, equities analysts expect that Centerra Gold will post 0.77 EPS for the current fiscal year.

Centerra Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 29th will be given a dividend of $0.051 per share. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $0.20 annualized dividend and a dividend yield of 2.91%. Centerra Gold’s dividend payout ratio (DPR) is presently 77.78%.

Institutional Trading of Centerra Gold

Several institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp raised its stake in Centerra Gold by 7.6% in the first quarter. Van ECK Associates Corp now owns 22,034,754 shares of the company’s stock worth $130,191,000 after buying an additional 1,552,601 shares in the last quarter. Donald Smith & CO. Inc. raised its stake in Centerra Gold by 8.8% in the first quarter. Donald Smith & CO. Inc. now owns 10,747,290 shares of the company’s stock worth $63,516,000 after buying an additional 867,334 shares in the last quarter. Ruffer LLP raised its stake in Centerra Gold by 18.5% in the third quarter. Ruffer LLP now owns 8,547,150 shares of the company’s stock worth $42,371,000 after buying an additional 1,331,400 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Centerra Gold by 2.8% during the third quarter. Vanguard Group Inc. now owns 8,031,893 shares of the company’s stock worth $39,356,000 after purchasing an additional 220,263 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Centerra Gold by 8.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,164,687 shares of the company’s stock worth $18,862,000 after purchasing an additional 247,027 shares in the last quarter. 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.