Centerra Gold (TSE:CG) Downgraded to Neutral at CIBC

Centerra Gold (TSE:CG) was downgraded by equities researchers at CIBC from an “outperform” rating to a “neutral” rating in a report issued on Wednesday, BayStreet.CA reports. They presently have a C$13.00 price objective on the stock, up from their prior price objective of C$11.00. CIBC’s price target indicates a potential upside of 41.92% from the stock’s current price.

Several other analysts also recently issued reports on CG. Raymond James boosted their price objective on Centerra Gold from C$11.50 to C$12.50 in a report on Tuesday, April 23rd. Canaccord Genuity Group boosted their price target on shares of Centerra Gold from C$10.75 to C$11.00 in a report on Tuesday, April 23rd. National Bankshares raised their price objective on shares of Centerra Gold from C$11.25 to C$12.00 and gave the stock an “outperform” rating in a research note on Monday, June 10th. Cormark boosted their target price on shares of Centerra Gold from C$13.00 to C$13.90 in a research note on Wednesday, May 15th. Finally, Bank of America increased their target price on Centerra Gold from C$7.55 to C$8.50 in a report on Tuesday, April 9th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$11.29.

Centerra Gold Price Performance

TSE:CG traded down C$0.16 during trading hours on Wednesday, reaching C$9.16. 855,729 shares of the company’s stock were exchanged, compared to its average volume of 658,787. The company has a market capitalization of C$1.96 billion, a P/E ratio of 25.44, a price-to-earnings-growth ratio of 1.26 and a beta of 1.19. Centerra Gold has a 12 month low of C$6.07 and a 12 month high of C$10.25. The business’s 50-day simple moving average is C$9.30 and its two-hundred day simple moving average is C$8.20. The company has a quick ratio of 3.24, a current ratio of 3.22 and a debt-to-equity ratio of 1.29.

Centerra Gold (TSE:CG) last released its quarterly earnings data on Tuesday, May 14th. The company reported C$0.19 earnings per share for the quarter, missing the consensus estimate of C$0.21 by C($0.02). The company had revenue of C$412.37 million for the quarter. Centerra Gold had a return on equity of 3.40% and a net margin of 4.99%. Sell-side analysts expect that Centerra Gold will post 0.887963 EPS for the current fiscal year.

Insider Buying and Selling at Centerra Gold

In other news, Director Craig Stephen Macdougall purchased 10,500 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was acquired at an average price of C$9.56 per share, with a total value of C$100,330.65. Insiders have bought 11,012 shares of company stock worth $105,101 over the last 90 days. 0.23% of the stock is currently owned by corporate 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.