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

Shares of Centerra Gold Inc. (NYSE:CGAU) have earned an average recommendation of “Hold” from the five brokerages that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $11.00.

Several brokerages have commented on CGAU. Cormark downgraded Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Desjardins lowered Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday, February 13th. Finally, Scotiabank decreased their price objective on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a report on Wednesday, January 15th.

Centerra Gold Stock Down 2.5 %

Shares of NYSE CGAU opened at $5.77 on Friday. The business’s 50 day moving average is $6.10 and its two-hundred day moving average is $6.43. The company has a market cap of $1.21 billion, a P/E ratio of 16.01 and a beta of 0.92. Centerra Gold has a 12 month low of $5.46 and a 12 month high of $7.82.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). The business 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%. Sell-side analysts expect that Centerra Gold will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 4.86%. The ex-dividend date is Thursday, March 13th. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio (DPR) is presently 52.78%.

Institutional Trading of Centerra Gold

Several institutional investors have recently modified their holdings of CGAU. Versor Investments LP grew its holdings in shares of Centerra Gold by 40.9% during the 3rd quarter. Versor Investments LP now owns 146,700 shares of the company’s stock worth $1,053,000 after purchasing an additional 42,600 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in Centerra Gold in the 3rd quarter valued at $412,000. PCJ Investment Counsel Ltd. boosted its stake in Centerra Gold by 59.6% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 434,628 shares of the company’s stock valued at $3,120,000 after buying an additional 162,382 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Centerra Gold by 36.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock valued at $31,514,000 after buying an additional 1,175,000 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Centerra Gold by 59.0% in the 3rd quarter. Bank of Montreal Can now owns 3,869,035 shares of the company’s stock valued at $28,690,000 after buying an additional 1,435,794 shares in the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

Centerra Gold Company Profile

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.