Centerra Gold (TSE:CG) Price Target Cut to C$12.50 by Analysts at CIBC

Centerra Gold (TSE:CG) had its target price decreased by CIBC from C$13.00 to C$12.50 in a report issued on Tuesday morning, BayStreet.CA reports.

A number of other equities analysts have also issued reports on the company. Desjardins raised Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st. Canaccord Genuity Group raised their price objective on shares of Centerra Gold from C$11.50 to C$12.50 in a research report on Tuesday, July 23rd. Raymond James reduced their price objective on shares of Centerra Gold from C$13.00 to C$12.50 in a research report on Monday. Finally, Cibc World Mkts downgraded shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Centerra Gold presently has a consensus rating of “Moderate Buy” and an average target price of C$11.71.

Centerra Gold Stock Performance

TSE CG opened at C$8.80 on Tuesday. The company has a quick ratio of 3.24, a current ratio of 3.79 and a debt-to-equity ratio of 1.29. Centerra Gold has a 52-week low of C$6.07 and a 52-week high of C$10.59. The business’s 50-day moving average price is C$9.63 and its 200 day moving average price is C$9.33. The firm has a market cap of C$1.87 billion, a P/E ratio of 10.48, a P/E/G ratio of 1.26 and a beta of 1.23.

Centerra Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.18%. Centerra Gold’s payout ratio is 33.33%.

Insider Activity

In other news, Senior Officer Yousef Rehman sold 71,419 shares of Centerra Gold stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of C$10.03, for a total transaction of C$716,332.57. In related news, Senior Officer Claudia D’orazio sold 29,388 shares of Centerra Gold stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of C$10.20, for a total transaction of C$299,757.60. Also, Senior Officer Yousef Rehman sold 71,419 shares of Centerra Gold stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of C$10.03, for a total value of C$716,332.57. Insiders own 0.21% 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.