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

Centerra Gold Inc. (NYSE:CGAU) has been given a consensus recommendation of “Buy” by the five research firms that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $9.55.

A number of analysts have weighed in on CGAU shares. Raymond James reduced their price target on shares of Centerra Gold from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, December 29th. National Bank Financial reiterated an “outperform overweight” rating on shares of Centerra Gold in a research report on Monday, April 8th. BMO Capital Markets initiated coverage on shares of Centerra Gold in a research report on Wednesday, February 21st. They set an “outperform” rating for the company. Finally, CIBC increased their target price on shares of Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a research report on Monday, April 15th.

Centerra Gold Trading Up 2.0 %

NYSE CGAU opened at $6.19 on Monday. The company has a fifty day simple moving average of $5.60 and a 200 day simple moving average of $5.53. The company has a market cap of $1.33 billion, a P/E ratio of -16.73 and a beta of 0.98. Centerra Gold has a 1 year low of $4.47 and a 1 year high of $7.43.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). Centerra Gold had a negative net margin of 7.43% and a positive return on equity of 0.62%. The company had revenue of $340.00 million during the quarter. Equities research analysts forecast that Centerra Gold will post 0.51 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 13th were given a $0.0518 dividend. This represents a $0.21 annualized dividend and a yield of 3.35%. The ex-dividend date was Tuesday, March 12th. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio (DPR) is presently -43.24%.

Institutional Investors Weigh In On Centerra Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its position in Centerra Gold by 99.6% in the 3rd quarter. American Century Companies Inc. now owns 1,135,677 shares of the company’s stock valued at $5,552,000 after acquiring an additional 566,652 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Centerra Gold by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 8,031,893 shares of the company’s stock valued at $39,356,000 after purchasing an additional 220,263 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of 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 purchasing an additional 151,220 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Centerra Gold by 134.2% in the 3rd quarter. Hsbc Holdings PLC now owns 35,587 shares of the company’s stock valued at $174,000 after purchasing an additional 20,389 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Centerra Gold by 91.9% in the 3rd quarter. Mackenzie Financial Corp now owns 3,384,834 shares of the company’s stock valued at $15,775,000 after purchasing an additional 1,621,158 shares during the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

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.