Centerra Gold (NYSE:CGAU) Earns “Neutral” Rating from CIBC

Centerra Gold (NYSE:CGAU)‘s stock had its “neutral” rating reaffirmed by analysts at CIBC in a note issued to investors on Wednesday, Benzinga reports. They presently have a $13.00 price target on the stock, up from their prior price target of $11.00. CIBC’s price objective indicates a potential upside of 92.88% from the stock’s current price.

CGAU has been the topic of a number of other research reports. Scotiabank increased their price objective 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. National Bank Financial reiterated an “outperform overweight” rating on shares of Centerra Gold in a research note on Monday, April 8th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Centerra Gold has a consensus rating of “Moderate Buy” and a consensus target price of $9.80.

Centerra Gold Trading Down 1.3 %

Shares of NYSE CGAU traded down $0.09 during midday trading on Wednesday, reaching $6.74. The company had a trading volume of 496,623 shares, compared to its average volume of 476,725. The business’s 50-day simple moving average is $6.80 and its 200 day simple moving average is $6.04. The stock has a market cap of $1.44 billion, a P/E ratio of 25.04 and a beta of 0.98. Centerra Gold has a 1 year low of $4.47 and a 1 year high of $7.51.

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

Institutional Trading of Centerra Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its position 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 valued at $130,191,000 after purchasing an additional 1,552,601 shares during the period. Donald Smith & CO. Inc. grew its position in shares of Centerra Gold by 8.8% in the first quarter. Donald Smith & CO. Inc. now owns 10,747,290 shares of the company’s stock valued at $63,516,000 after purchasing an additional 867,334 shares during the period. Vanguard Group Inc. grew its position in shares of Centerra Gold by 2.8% in the third quarter. Vanguard Group Inc. now owns 8,031,893 shares of the company’s stock valued at $39,356,000 after purchasing an additional 220,263 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Centerra Gold by 8.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,164,687 shares of the company’s stock valued at $18,862,000 after purchasing an additional 247,027 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Centerra Gold by 2.9% in the fourth quarter. Wellington Management Group LLP now owns 3,070,263 shares of the company’s stock valued at $18,418,000 after purchasing an additional 87,248 shares during the period. Institutional investors and hedge funds 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.