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

Shares of Centerra Gold Inc. (NYSE:CGAU) have been assigned an average rating of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $11.00.

Several equities analysts have recently commented on the stock. Cormark lowered shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, February 26th. National Bank Financial upgraded shares of Centerra Gold to a “strong-buy” rating in a research report on Friday, March 21st. Scotiabank dropped their price target on shares of Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, January 15th. Desjardins downgraded Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 13th. Finally, CIBC reissued a “neutral” rating on shares of Centerra Gold in a report on Thursday, March 20th.

Centerra Gold Stock Down 9.4 %

Shares of NYSE CGAU opened at $5.63 on Tuesday. The firm’s 50-day moving average price is $6.18 and its two-hundred day moving average price is $6.31. Centerra Gold has a 52-week low of $5.46 and a 52-week high of $7.82. The stock has a market capitalization of $1.18 billion, a P/E ratio of 15.63 and a beta of 0.81.

Centerra Gold (NYSE:CGAU) last announced 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). The company had revenue of $302.40 million during the quarter, compared to the consensus estimate of $316.92 million. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. As a group, equities research analysts expect that Centerra Gold will post 0.59 earnings per share for the current year.

Centerra Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $0.07 dividend. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date was Thursday, March 13th. Centerra Gold’s dividend payout ratio is currently 52.78%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC boosted its stake in Centerra Gold by 145.6% during the 3rd quarter. Jane Street Group LLC now owns 419,992 shares of the company’s stock valued at $3,015,000 after purchasing an additional 249,004 shares in the last quarter. Geode Capital Management LLC grew its holdings in Centerra Gold by 378.7% during the third quarter. Geode Capital Management LLC now owns 454,939 shares of the company’s stock worth $4,152,000 after acquiring an additional 359,905 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Centerra Gold in the third quarter worth about $4,454,000. HighTower Advisors LLC acquired a new stake in Centerra Gold in the 3rd quarter valued at about $127,000. Finally, Barclays PLC boosted its position in shares of Centerra Gold by 284.5% during the 3rd quarter. Barclays PLC now owns 74,930 shares of the company’s stock valued at $537,000 after purchasing an additional 55,444 shares in 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.