Centerra Gold (NYSE:CGAU) Price Target Raised to $11.00

Centerra Gold (NYSE:CGAU) had its price objective hoisted by Scotiabank from $9.00 to $11.00 in a report issued on Monday morning, Marketbeat Ratings reports. Scotiabank currently has a sector outperform rating on the stock.

Several other equities research analysts have also issued reports on CGAU. Cormark cut Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 26th. National Bank Financial raised shares of Centerra Gold to a “strong-buy” rating in a research note on Friday, March 21st. CIBC reissued a “neutral” rating on shares of Centerra Gold in a research note on Thursday, March 20th. National Bankshares restated an “outperform” rating on shares of Centerra Gold in a report on Wednesday, April 2nd. Finally, Raymond James reiterated an “outperform” rating on shares of Centerra Gold in a report on Friday, April 4th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Centerra Gold Trading Up 2.9 %

Shares of CGAU opened at $7.03 on Monday. The business’s 50 day moving average is $6.15 and its 200 day moving average is $6.26. Centerra Gold has a 12-month low of $5.41 and a 12-month high of $7.82. The company has a market capitalization of $1.48 billion, a PE ratio of 19.53 and a beta of 0.81.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). The company had revenue of $302.40 million for the quarter, compared to the consensus estimate of $316.92 million. Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. Equities research analysts predict that Centerra Gold will post 0.59 earnings per share for the current year.

Centerra Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.98%. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Thursday, March 13th. Centerra Gold’s dividend payout ratio is currently 52.78%.

Institutional Investors Weigh In On Centerra Gold

Several large investors have recently modified their holdings of the business. Donald Smith & CO. Inc. increased its holdings in Centerra Gold by 30.1% during the fourth quarter. Donald Smith & CO. Inc. now owns 8,723,060 shares of the company’s stock valued at $49,634,000 after buying an additional 2,017,756 shares during the period. Vanguard Group Inc. increased its holdings in shares of Centerra Gold by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 8,254,618 shares of the company’s stock valued at $46,977,000 after acquiring an additional 76,544 shares during the period. Royal Bank of Canada raised its position in shares of Centerra Gold by 7.2% in the 4th quarter. Royal Bank of Canada now owns 7,950,409 shares of the company’s stock worth $45,238,000 after acquiring an additional 530,601 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Centerra Gold by 24.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,808,773 shares of the company’s stock worth $33,028,000 after purchasing an additional 1,126,825 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Centerra Gold by 34.1% during the fourth quarter. American Century Companies Inc. now owns 3,291,860 shares of the company’s stock valued at $18,733,000 after purchasing an additional 836,777 shares in the last quarter. Institutional investors 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.