Analysts Set Centerra Gold Inc. (NYSE:CGAU) PT at $9.07

Centerra Gold Inc. (NYSE:CGAU) has been assigned a consensus rating of “Buy” from the five research firms that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $9.07.

Several equities analysts recently commented on the stock. BMO Capital Markets assumed coverage on shares of Centerra Gold in a research note on Wednesday, February 21st. They set an “outperform” rating for the company. National Bank Financial reiterated an “outperform spec overweight” rating on shares of Centerra Gold in a research note on Wednesday, January 3rd. Raymond James cut their target price on shares of Centerra Gold from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, December 29th. Finally, Desjardins reissued a “buy” rating on shares of Centerra Gold in a report on Wednesday, November 29th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CGAU. Cibc World Market Inc. lifted its position in Centerra Gold by 329.5% during the 1st quarter. Cibc World Market Inc. now owns 417,805 shares of the company’s stock worth $4,111,000 after buying an additional 320,529 shares in the last quarter. Vontobel Holding Ltd. lifted its position in Centerra Gold by 125.9% during the 1st quarter. Vontobel Holding Ltd. now owns 23,743 shares of the company’s stock worth $233,000 after buying an additional 13,233 shares in the last quarter. Vanguard Group Inc. lifted its position in Centerra Gold by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 7,156,995 shares of the company’s stock worth $70,424,000 after buying an additional 141,381 shares in the last quarter. Mackenzie Financial Corp lifted its position in Centerra Gold by 20.1% during the 1st quarter. Mackenzie Financial Corp now owns 679,096 shares of the company’s stock valued at $6,687,000 after purchasing an additional 113,695 shares during the period. Finally, Bridgewater Associates LP lifted its position in Centerra Gold by 145.3% during the 1st quarter. Bridgewater Associates LP now owns 67,617 shares of the company’s stock valued at $665,000 after purchasing an additional 40,049 shares during the period. Institutional investors and hedge funds own 55.40% of the company’s stock.

Centerra Gold Trading Up 0.7 %

Shares of Centerra Gold stock opened at $5.80 on Thursday. The firm has a fifty day simple moving average of $5.37 and a 200-day simple moving average of $5.44. Centerra Gold has a 1-year low of $4.47 and a 1-year high of $7.71. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -15.68 and a beta of 0.94.

Centerra Gold (NYSE:CGAU) last released its earnings results on Thursday, February 22nd. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). The company had revenue of $340.00 million for the quarter. Centerra Gold had a negative net margin of 7.43% and a positive return on equity of 0.62%. As a group, research analysts predict that Centerra Gold will post 0.34 earnings per share for the current year.

Centerra Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were issued a $0.0518 dividend. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.21 annualized dividend and a dividend yield of 3.57%. Centerra Gold’s dividend payout ratio is presently -54.05%.

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.