Centerra Gold Downgraded by Scotiabank to Sector Underperform (CG)
Centerra Gold (TSE:CG) was downgraded by investment analysts at Scotiabank from a “sector perform” rating to a “sector underperform” rating in a note issued to investors on Thursday, American Banking News.com reports. They currently have a C$3.00 price target on the stock, down from their previous price target of C$8.00. Scotiabank’s price target suggests a potential downside of 28.40% from the stock’s previous close.
Centerra Gold (TSE:CG) traded up 4.23% during mid-day trading on Thursday, hitting $4.19. The stock had a trading volume of 668,828 shares. Centerra Gold has a 52-week low of $2.99 and a 52-week high of $11.64. The stock’s 50-day moving average is $5.80 and its 200-day moving average is $4.95. The company’s market cap is $990.4 million.
A number of other analysts have also recently weighed in on CG. Analysts at TD Securities downgraded shares of Centerra Gold from a “speculative buy” rating to a “hold” rating in a research note to investors on Thursday. They now have a C$6.00 price target on the stock, down previously from C$9.00. Finally, analysts at UBS AG downgraded shares of Centerra Gold from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, September 5th. They now have a C$6.00 price target on the stock, up previously from C$5.00. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Centerra Gold presently has a consensus rating of “Hold” and an average target price of C$6.00.
Centerra Gold Inc (TSE:CG) is a gold mining company.
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