Brokerages Set Centerra Gold Inc. (NYSE:CGAU) Price Target at $9.30

Shares of Centerra Gold Inc. (NYSE:CGAU) have received a consensus rating of “Buy” from the four research firms that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $9.30.

Several brokerages have issued reports on CGAU. CIBC boosted their price objective on shares of Centerra Gold from $9.50 to $11.00 and gave the company an “outperformer” rating in a research note on Monday, April 15th. National Bank Financial reiterated an “outperform overweight” rating on shares of Centerra Gold in a research note on Monday, April 8th. Finally, Scotiabank raised their price objective on shares of Centerra Gold from $8.00 to $9.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 23rd.

Institutional Trading of Centerra Gold

A number of institutional investors have recently added to or reduced their stakes in CGAU. Heron Bay Capital Management purchased a new position in Centerra Gold during the 4th quarter valued at about $77,000. Dynamic Technology Lab Private Ltd purchased a new position in Centerra Gold during the fourth quarter worth $98,000. Virtu Financial LLC acquired a new position in shares of Centerra Gold in the first quarter worth $113,000. Hsbc Holdings PLC lifted its position in shares of Centerra Gold by 134.2% in the third quarter. Hsbc Holdings PLC now owns 35,587 shares of the company’s stock valued at $174,000 after acquiring an additional 20,389 shares in the last quarter. Finally, Insigneo Advisory Services LLC acquired a new stake in shares of Centerra Gold during the third quarter valued at $223,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Centerra Gold Stock Down 1.0 %

NYSE CGAU opened at $6.66 on Friday. The firm has a market cap of $1.42 billion, a P/E ratio of 24.65 and a beta of 0.98. Centerra Gold has a 52-week low of $4.47 and a 52-week high of $7.51. The business’s 50-day moving average price is $6.74 and its 200 day moving average price is $6.01.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Tuesday, May 14th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Centerra Gold had a net margin of 4.99% and a return on equity of 5.58%. The company had revenue of $305.88 million during the quarter. During the same quarter in the prior year, the business earned ($0.24) EPS. As a group, analysts anticipate that Centerra Gold will post 0.78 earnings per share for the current year.

Centerra Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th were issued a $0.051 dividend. The ex-dividend date was Wednesday, May 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.07%. Centerra Gold’s dividend payout ratio is presently 74.07%.

Centerra Gold Company Profile

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.