Analysts Set Centerra Gold Inc. (NYSE:CGAU) PT at $9.30

Shares of Centerra Gold Inc. (NYSE:CGAU) have been given an average rating of “Buy” by the four brokerages that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $9.30.

Several equities research analysts have issued reports on the stock. National Bank Financial reissued an “outperform overweight” rating on shares of Centerra Gold in a report on Monday, April 8th. Scotiabank raised their price target on shares of Centerra Gold from $8.00 to $9.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 23rd. CIBC upped their price objective on Centerra Gold from $9.50 to $11.00 and gave the company an “outperformer” rating in a research note on Monday, April 15th. Finally, BMO Capital Markets assumed coverage on Centerra Gold in a research report on Wednesday, February 21st. They set an “outperform” rating for the company.

Institutional Investors Weigh In On Centerra Gold

A number of large investors have recently bought and sold shares of the business. Donald Smith & CO. Inc. boosted its stake in Centerra Gold by 27.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 9,879,956 shares of the company’s stock worth $58,885,000 after purchasing an additional 2,156,920 shares in the last quarter. Pale Fire Capital SE grew its holdings in Centerra Gold by 1,136.9% during the 4th quarter. Pale Fire Capital SE now owns 1,807,787 shares of the company’s stock worth $10,774,000 after acquiring an additional 1,661,638 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Centerra Gold in the 4th quarter valued at about $9,540,000. Van ECK Associates Corp raised its stake in shares of 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 acquiring an additional 1,552,601 shares during the last quarter. Finally, Ruffer LLP lifted its position in shares of Centerra Gold by 18.5% during the third quarter. Ruffer LLP now owns 8,547,150 shares of the company’s stock worth $42,371,000 after purchasing an additional 1,331,400 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors.

Centerra Gold Price Performance

Centerra Gold stock opened at $6.83 on Tuesday. The company’s fifty day moving average price is $6.51 and its two-hundred day moving average price is $5.90. Centerra Gold has a one year low of $4.47 and a one year high of $7.51. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 25.28 and a beta of 0.99.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Tuesday, May 14th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The business had revenue of $305.88 million for the quarter. Centerra Gold had a return on equity of 5.61% and a net margin of 4.99%. During the same period in the previous year, the business posted ($0.24) EPS. As a group, sell-side analysts anticipate that Centerra Gold will post 0.78 earnings per share for the current year.

Centerra Gold Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th will be paid a $0.051 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Wednesday, May 29th. Centerra Gold’s dividend payout ratio (DPR) is currently 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.