Brokerages Set Centerra Gold Inc. (NYSE:CGAU) Target Price at $14.17

Shares of Centerra Gold Inc. (NYSE:CGAU) have received an average rating of “Moderate Buy” from the eleven brokerages that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $14.1667.

Several analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Centerra Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Cormark upgraded shares of Centerra Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, October 30th. Royal Bank Of Canada lowered shares of Centerra Gold from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $13.00 to $14.00 in a research note on Wednesday, September 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Centerra Gold in a research report on Thursday, November 13th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Centerra Gold in a report on Thursday, October 30th.

Hedge Funds Weigh In On Centerra Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in Centerra Gold by 43.0% during the first quarter. Bank of New York Mellon Corp now owns 20,183 shares of the company’s stock worth $128,000 after buying an additional 6,071 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Centerra Gold by 74.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 18,488 shares of the company’s stock valued at $117,000 after acquiring an additional 7,895 shares during the period. AMH Equity Ltd purchased a new stake in shares of Centerra Gold during the 1st quarter worth approximately $902,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Centerra Gold in the 1st quarter worth approximately $535,000. Finally, TD Asset Management Inc lifted its stake in Centerra Gold by 52.1% in the first quarter. TD Asset Management Inc now owns 1,148,338 shares of the company’s stock valued at $7,285,000 after purchasing an additional 393,122 shares during the last quarter. 55.40% of the stock is owned by hedge funds and other institutional investors.

Centerra Gold Stock Performance

Shares of CGAU opened at $12.00 on Wednesday. The firm has a market capitalization of $2.42 billion, a P/E ratio of 7.31, a P/E/G ratio of 0.62 and a beta of 0.89. Centerra Gold has a 52 week low of $5.41 and a 52 week high of $12.80. The stock has a 50 day moving average price of $11.01 and a two-hundred day moving average price of $8.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.59 and a current ratio of 2.89.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Tuesday, October 28th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.11. Centerra Gold had a return on equity of 10.47% and a net margin of 26.35%.The company had revenue of $395.20 million for the quarter, compared to analysts’ expectations of $314.74 million. Equities analysts forecast that Centerra Gold will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Thursday, November 13th. Centerra Gold’s dividend payout ratio is 11.59%.

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.