CIBC Lowers Centerra Gold (TSE:CG) to Neutral

CIBC cut shares of Centerra Gold (TSE:CG) from an outperform rating to a neutral rating in a research report sent to investors on Wednesday morning, BayStreet.CA reports. The brokerage currently has C$13.00 target price on the stock, up from their prior target price of C$11.00.

A number of other research analysts have also issued reports on CG. Cormark raised their target price on shares of Centerra Gold from C$13.00 to C$13.90 in a research note on Wednesday, May 15th. National Bankshares raised their price target on Centerra Gold from C$11.25 to C$12.00 and gave the company an outperform rating in a research report on Monday, June 10th. Bank of America boosted their price objective on Centerra Gold from C$7.55 to C$8.50 in a research report on Tuesday, April 9th. National Bank Financial reaffirmed an outperform overweight rating on shares of Centerra Gold in a report on Monday, April 8th. Finally, Raymond James upped their price target on Centerra Gold from C$11.50 to C$12.50 in a report on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of C$11.29.

Centerra Gold Price Performance

Shares of TSE:CG opened at C$9.59 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 3.22 and a quick ratio of 3.24. The stock has a market capitalization of C$2.06 billion, a P/E ratio of 26.64, a P/E/G ratio of 1.26 and a beta of 1.19. The business has a 50-day moving average of C$9.37 and a two-hundred day moving average of C$8.23. Centerra Gold has a fifty-two week low of C$6.07 and a fifty-two week high of C$10.25.

Centerra Gold (TSE:CG) last posted its earnings results 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). Centerra Gold had a return on equity of 3.40% and a net margin of 4.99%. The company had revenue of C$412.37 million during the quarter. On average, equities research analysts predict that Centerra Gold will post 0.887963 EPS for the current fiscal year.

Centerra Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Wednesday, June 12th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Wednesday, May 29th. Centerra Gold’s dividend payout ratio (DPR) is presently 77.78%.

Insider Buying and Selling at Centerra Gold

In related news, Director Craig Stephen Macdougall bought 10,500 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was acquired at an average price of C$9.56 per share, for a total transaction of C$100,330.65. Over the last ninety days, insiders have purchased 11,012 shares of company stock valued at $105,101. 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.