Centerra Gold (NYSE:CGAU) Given New $9.00 Price Target at Scotiabank

Centerra Gold (NYSE:CGAU) had its target price dropped by analysts at Scotiabank from $10.00 to $9.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 52.54% from the company’s previous close. Scotiabank also issued estimates for Centerra Gold’s FY2025 earnings at $0.45 EPS.

Separately, Desjardins upgraded Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Centerra Gold has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Centerra Gold Price Performance

CGAU stock traded down $0.11 during mid-day trading on Wednesday, hitting $5.90. 83,659 shares of the stock were exchanged, compared to its average volume of 616,069. The business has a fifty day moving average price of $5.92 and a 200 day moving average price of $6.58. Centerra Gold has a 12 month low of $4.47 and a 12 month high of $7.82. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 12.29 and a beta of 0.90.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The company had revenue of $323.93 million during the quarter. Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. During the same quarter in the prior year, the company posted $0.20 EPS. As a group, equities analysts forecast that Centerra Gold will post 0.79 EPS for the current fiscal year.

Institutional Trading of Centerra Gold

A number of hedge funds have recently made changes to their positions in CGAU. CWM LLC bought a new position in Centerra Gold in the 3rd quarter valued at approximately $57,000. Capstone Investment Advisors LLC bought a new position in Centerra Gold in the 3rd quarter valued at approximately $89,000. Vanguard Personalized Indexing Management LLC lifted its position in Centerra Gold by 12.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock valued at $96,000 after acquiring an additional 1,573 shares in the last quarter. HighTower Advisors LLC bought a new position in Centerra Gold in the 3rd quarter valued at approximately $127,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Centerra Gold in the 2nd quarter valued at approximately $131,000. 55.40% of the stock is owned by institutional investors.

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.