Brokerages Set Centerra Gold Inc. (NYSE:CGAU) Target Price at $11.00

Centerra Gold Inc. (NYSE:CGAU) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $11.00.

Separately, Desjardins raised Centerra Gold to a “moderate buy” rating in a research report on Thursday, October 31st.

Centerra Gold Stock Performance

NYSE CGAU opened at $6.03 on Wednesday. The business has a 50 day simple moving average of $6.78 and a 200 day simple moving average of $6.83. Centerra Gold has a 52-week low of $4.47 and a 52-week high of $7.82. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 12.56 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $323.93 million for the quarter. Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. During the same period in the previous year, the firm posted $0.20 EPS. On average, analysts predict that Centerra Gold will post 0.79 EPS for the current year.

Centerra Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a dividend of $0.052 per share. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Wednesday, November 13th. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio (DPR) is currently 41.67%.

Institutional Investors Weigh In On Centerra Gold

A number of institutional investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Centerra Gold by 12.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock worth $96,000 after buying an additional 1,573 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Centerra Gold by 4.1% during the 2nd quarter. Hsbc Holdings PLC now owns 48,101 shares of the company’s stock valued at $325,000 after acquiring an additional 1,895 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Centerra Gold by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 178,489 shares of the company’s stock worth $1,199,000 after purchasing an additional 2,120 shares during the last quarter. TD Asset Management Inc grew its holdings in Centerra Gold by 0.7% during the 2nd quarter. TD Asset Management Inc now owns 587,062 shares of the company’s stock worth $3,947,000 after acquiring an additional 4,356 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Centerra Gold by 8.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,308 shares of the company’s stock worth $419,000 after purchasing an additional 4,373 shares during 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.