Analysts Set Centerra Gold Inc. (NYSE:CGAU) PT at $9.80

Centerra Gold Inc. (NYSE:CGAU) has been given an average recommendation of “Moderate Buy” by the six research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $9.80.

CGAU has been the topic of a number of recent analyst reports. National Bank Financial reiterated an “outperform overweight” rating on shares of Centerra Gold in a report on Monday, April 8th. Cibc World Mkts lowered Centerra Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. CIBC restated a “neutral” rating and issued a $13.00 target price (up from $11.00) on shares of Centerra Gold in a research note on Wednesday, July 10th. Finally, Scotiabank boosted their target price on Centerra Gold from $8.00 to $9.00 and gave the company a “sector outperform” rating in a research note on Thursday, May 23rd.

Hedge Funds Weigh In On Centerra Gold

Hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Centerra Gold in the 2nd quarter worth about $6,772,000. Polunin Capital Partners Ltd bought a new stake in shares of Centerra Gold in the 2nd quarter valued at about $3,758,000. U S Global Investors Inc. raised its position in Centerra Gold by 3.2% during the 2nd quarter. U S Global Investors Inc. now owns 1,009,583 shares of the company’s stock valued at $6,941,000 after purchasing an additional 31,377 shares during the last quarter. Artemis Investment Management LLP bought a new position in Centerra Gold during the 2nd quarter valued at approximately $268,000. Finally, Virtu Financial LLC bought a new position in Centerra Gold during the 1st quarter valued at approximately $113,000. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Centerra Gold Stock Performance

Shares of Centerra Gold stock opened at $6.56 on Wednesday. Centerra Gold has a 52 week low of $4.47 and a 52 week high of $7.51. The stock has a 50 day moving average price of $6.86 and a two-hundred day moving average price of $6.13. The stock has a market capitalization of $1.40 billion, a PE ratio of 24.30 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last posted its earnings results on Tuesday, May 14th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates 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 previous year, the company earned ($0.24) EPS. Research analysts forecast that Centerra Gold will post 0.75 EPS 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 given a $0.051 dividend. This represents a $0.20 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Wednesday, May 29th. Centerra Gold’s dividend payout ratio (DPR) 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.