Centerra Gold Inc. (NYSE:CGAU) Receives $11.00 Average Target Price from Brokerages

Centerra Gold Inc. (NYSE:CGAU) has earned a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $11.00.

Separately, Desjardins upgraded shares of Centerra Gold to a “moderate buy” rating in a research note on Thursday, October 31st.

Centerra Gold Trading Up 3.6 %

Shares of Centerra Gold stock opened at $6.17 on Wednesday. The business’s fifty day simple moving average is $6.76 and its 200 day simple moving average is $6.83. Centerra Gold has a 12 month low of $4.47 and a 12 month high of $7.82. The firm has a market capitalization of $1.30 billion, a P/E ratio of 12.84 and a beta of 0.89.

Centerra Gold (NYSE:CGAU) last released its earnings results on Thursday, October 31st. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. The business had revenue of $323.93 million for the quarter. During the same quarter last year, the firm earned $0.20 EPS. Analysts predict that Centerra Gold will post 0.79 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a $0.052 dividend. The ex-dividend date was Wednesday, November 13th. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 annualized dividend and a yield of 3.37%. Centerra Gold’s dividend payout ratio (DPR) is 43.75%.

Institutional Investors Weigh In On Centerra Gold

Several institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its stake in shares of Centerra Gold by 594.6% during the 2nd quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company’s stock valued at $59,532,000 after purchasing an additional 7,586,370 shares during the period. Bank of Montreal Can increased its position in shares of Centerra Gold by 158.9% during the second quarter. Bank of Montreal Can now owns 2,433,241 shares of the company’s stock valued at $16,881,000 after buying an additional 1,493,349 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Centerra Gold by 36.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock worth $31,514,000 after buying an additional 1,175,000 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Centerra Gold by 132.8% in the second quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock valued at $12,345,000 after acquiring an additional 1,047,142 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in Centerra Gold during the second quarter valued at approximately $6,772,000. Hedge funds and other institutional investors 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.