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

Shares of Centerra Gold Inc. (NYSE:CGAU) have been assigned an average rating of “Buy” from the four ratings firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $9.30.

CGAU has been the subject of a number of research reports. BMO Capital Markets initiated coverage on Centerra Gold in a research note on Wednesday, February 21st. They issued an “outperform” rating for the company. Scotiabank raised 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. CIBC lifted their price objective on Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a research report on Monday, April 15th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Centerra Gold in a research report on Monday, April 8th.

Centerra Gold Price Performance

Centerra Gold stock opened at $6.67 on Tuesday. The stock has a fifty day moving average price of $6.49 and a two-hundred day moving average price of $5.89. Centerra Gold has a 52-week low of $4.47 and a 52-week high of $7.51. The firm has a market capitalization of $1.43 billion, a P/E ratio of 24.70 and a beta of 0.99.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Tuesday, May 14th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). Centerra Gold had a return on equity of 5.61% and a net margin of 4.99%. The company had revenue of $305.88 million for the quarter. During the same period in the prior year, the company earned ($0.24) EPS. On average, equities research analysts predict that Centerra Gold will post 0.78 EPS for the current fiscal year.

Centerra Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th will be issued a dividend of $0.051 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Wednesday, May 29th. Centerra Gold’s dividend payout ratio (DPR) is presently 74.07%.

Institutional Investors Weigh In On Centerra Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of CGAU. Van ECK Associates Corp raised its position in Centerra Gold by 0.3% in the 3rd quarter. Van ECK Associates Corp now owns 20,237,998 shares of the company’s stock valued at $98,976,000 after buying an additional 56,029 shares during the last quarter. Deutsche Bank AG raised its position in Centerra Gold by 818.1% in the 3rd quarter. Deutsche Bank AG now owns 169,704 shares of the company’s stock valued at $832,000 after buying an additional 151,220 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Centerra Gold in the 3rd quarter valued at approximately $225,000. Hsbc Holdings PLC increased its position in shares of Centerra Gold by 134.2% during the 3rd quarter. Hsbc Holdings PLC now owns 35,587 shares of the company’s stock worth $174,000 after purchasing an additional 20,389 shares during the last quarter. Finally, Numerai GP LLC acquired a new position in shares of Centerra Gold during the 3rd quarter worth approximately $405,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

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.