Centerra Gold (NYSE:CGAU) Price Target Raised to $11.00

Centerra Gold (NYSE:CGAU) had its target price upped by Scotiabank from $9.00 to $11.00 in a research note released on Monday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

CGAU has been the topic of a number of other research reports. CIBC reissued a “neutral” rating on shares of Centerra Gold in a research report on Thursday, March 20th. Desjardins cut Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 13th. Raymond James reaffirmed an “outperform” rating on shares of Centerra Gold in a research report on Friday, April 4th. National Bankshares restated an “outperform” rating on shares of Centerra Gold in a research note on Wednesday, April 2nd. Finally, Cormark lowered shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Centerra Gold Stock Up 2.3 %

Shares of Centerra Gold stock opened at $6.76 on Monday. The stock has a market cap of $1.42 billion, a P/E ratio of 18.78 and a beta of 0.81. Centerra Gold has a 12-month low of $5.41 and a 12-month high of $7.82. The business’s 50 day moving average is $6.14 and its 200-day moving average is $6.25.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.03). Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. The firm had revenue of $302.40 million for the quarter, compared to the consensus estimate of $316.92 million. On average, sell-side analysts expect that Centerra Gold will post 0.59 EPS for the current year.

Centerra Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $0.07 dividend. This is a boost 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 annualized dividend and a yield of 4.14%. Centerra Gold’s payout ratio is 52.78%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vise Technologies Inc. acquired a new stake in Centerra Gold during the fourth quarter worth approximately $58,000. SG Americas Securities LLC bought a new position in shares of Centerra Gold in the fourth quarter worth $59,000. Massachusetts Financial Services Co. MA acquired a new position in Centerra Gold in the fourth quarter valued at about $60,000. Susquehanna Advisors Group Inc. bought a new stake in Centerra Gold during the fourth quarter worth about $61,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Centerra Gold during the fourth quarter worth about $79,000. 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.