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

Shares of Centerra Gold Inc. (NYSE:CGAU) have received a consensus rating of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $9.80.

CGAU has been the subject of several recent research reports. Cibc World Mkts downgraded shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Scotiabank increased their target price 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. Finally, CIBC reiterated a “neutral” rating and set a $13.00 target price (up previously from $11.00) on shares of Centerra Gold in a research note on Wednesday, July 10th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC increased its holdings in Centerra Gold by 12.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock valued at $96,000 after buying an additional 1,573 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Centerra Gold in the fourth quarter valued at about $98,000. Virtu Financial LLC purchased a new position in Centerra Gold in the first quarter valued at about $113,000. DekaBank Deutsche Girozentrale purchased a new position in Centerra Gold in the second quarter valued at about $131,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Centerra Gold in the second quarter valued at about $154,000. 55.40% of the stock is owned by hedge funds and other institutional investors.

Centerra Gold Price Performance

NYSE CGAU opened at $6.77 on Thursday. Centerra Gold has a 1 year low of $4.47 and a 1 year high of $7.51. The company has a market capitalization of $1.45 billion, a PE ratio of 25.07 and a beta of 0.98. The company has a fifty day moving average of $6.83 and a two-hundred day moving average of $6.55.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Thursday, August 1st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.07. Centerra Gold had a net margin of 10.68% and a return on equity of 10.72%. The business had revenue of $282.31 million during the quarter. During the same quarter last year, the company posted ($0.20) EPS. On average, research analysts expect that Centerra Gold will post 0.81 earnings per share for the current year.

Centerra Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a dividend of $0.051 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.20 annualized dividend and a yield of 3.01%. Centerra Gold’s dividend payout ratio is currently 74.07%.

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.