CIBC Forecasts Strong Price Appreciation for Centerra Gold (TSE:CG) Stock

Centerra Gold (TSE:CG) had its price objective hoisted by equities researchers at CIBC from C$9.80 to C$10.30 in a report released on Thursday,BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. CIBC’s price objective would suggest a potential upside of 17.85% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Cormark lowered shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 26th. National Bankshares boosted their price target on shares of Centerra Gold from C$12.00 to C$12.50 and gave the stock an “outperform” rating in a research note on Wednesday. Desjardins cut shares of Centerra Gold from a “buy” rating to a “hold” rating and cut their price target for the stock from C$12.75 to C$11.00 in a research note on Thursday, February 13th. TD Securities cut their price target on shares of Centerra Gold from C$13.00 to C$12.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Finally, Royal Bank of Canada cut their price target on shares of Centerra Gold from C$12.00 to C$11.00 in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Centerra Gold has an average rating of “Hold” and a consensus target price of C$11.58.

Centerra Gold Stock Performance

TSE CG opened at C$8.74 on Thursday. The company’s 50 day moving average is C$8.78 and its 200-day moving average is C$8.92. Centerra Gold has a 12-month low of C$7.68 and a 12-month high of C$10.59. The company has a quick ratio of 3.24, a current ratio of 3.60 and a debt-to-equity ratio of 1.26. The firm has a market cap of C$1.31 billion, a P/E ratio of 12.67, a price-to-earnings-growth ratio of 1.26 and a beta of 1.23.

Insider Activity at Centerra Gold

In related news, Director Paul Nicholas Wright acquired 35,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of C$8.11 per share, for a total transaction of C$283,752.00. Also, Director Paul Botond Stilicho Tomory sold 8,563 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of C$8.28, for a total transaction of C$70,901.64. 0.21% of the stock is currently owned by company insiders.

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.