Analysts Set Centerra Gold Inc. (NYSE:CGAU) PT at $11.00

Centerra Gold Inc. (NYSE:CGAU) has received an average recommendation of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $11.00.

Several research firms have recently weighed in on CGAU. CIBC reissued a “neutral” rating on shares of Centerra Gold in a research report on Thursday, March 20th. Desjardins lowered shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 13th. Cormark downgraded shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Scotiabank decreased their target price on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a research report on Wednesday, January 15th. Finally, National Bank Financial raised Centerra Gold to a “strong-buy” rating in a research report on Friday, March 21st.

Centerra Gold Stock Down 9.4 %

CGAU opened at $5.63 on Tuesday. The firm has a market cap of $1.18 billion, a PE ratio of 15.63 and a beta of 0.81. The business has a fifty day simple moving average of $6.18 and a 200-day simple moving average of $6.31. Centerra Gold has a fifty-two week low of $5.46 and a fifty-two week high of $7.82.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The company had revenue of $302.40 million during the quarter, compared to analyst estimates of $316.92 million. Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. On average, equities research analysts anticipate that Centerra Gold will post 0.59 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $0.07 dividend. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.28 dividend on an annualized basis and a yield of 4.98%. Centerra Gold’s dividend payout ratio is presently 52.78%.

Hedge Funds Weigh In On Centerra Gold

Institutional investors and hedge funds have recently modified their holdings of the stock. Vise Technologies Inc. acquired a new stake in Centerra Gold during the fourth quarter valued at $58,000. SG Americas Securities LLC purchased a new stake in shares of Centerra Gold during the 4th quarter worth about $59,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Centerra Gold during the 4th quarter valued at about $60,000. Susquehanna Advisors Group Inc. bought a new stake in shares of Centerra Gold in the 4th quarter valued at approximately $61,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in Centerra Gold in the fourth quarter worth approximately $79,000. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

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.