Centerra Gold Inc. (NYSE:CGAU) Receives Average Recommendation of “Buy” from Analysts

Shares of Centerra Gold Inc. (NYSE:CGAU) have received a consensus recommendation of “Buy” from the five research firms that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have covered the stock in the last year is $9.07.

Several equities analysts recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Centerra Gold in a research report on Wednesday, February 21st. They issued an “outperform” rating on the stock. Raymond James decreased their price target on shares of Centerra Gold from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, December 29th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Centerra Gold in a research note on Monday, April 8th.

Institutional Trading of Centerra Gold

Several institutional investors have recently added to or reduced their stakes in CGAU. The Manufacturers Life Insurance Company raised its stake in shares of Centerra Gold by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 160,838 shares of the company’s stock valued at $964,000 after acquiring an additional 2,402 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Centerra Gold by 3.6% during the second quarter. Geode Capital Management LLC now owns 83,523 shares of the company’s stock valued at $501,000 after buying an additional 2,920 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Centerra Gold by 22.8% during the second quarter. Great West Life Assurance Co. Can now owns 17,373 shares of the company’s stock valued at $104,000 after buying an additional 3,223 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Centerra Gold by 1.8% during the third quarter. CIBC Asset Management Inc now owns 207,198 shares of the company’s stock valued at $1,016,000 after buying an additional 3,640 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Centerra Gold by 1.0% in the third quarter. Legal & General Group Plc now owns 399,671 shares of the company’s stock worth $1,963,000 after purchasing an additional 4,151 shares during the last quarter. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Centerra Gold Trading Down 2.3 %

Shares of Centerra Gold stock opened at $5.99 on Monday. The company has a market cap of $1.29 billion, a P/E ratio of -16.19 and a beta of 0.98. The business has a 50-day moving average price of $5.51 and a two-hundred day moving average price of $5.49. Centerra Gold has a 1-year low of $4.47 and a 1-year high of $7.71.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The company had revenue of $340.00 million for the quarter. Centerra Gold had a positive return on equity of 0.62% and a negative net margin of 7.43%. Equities research analysts forecast that Centerra Gold will post 0.51 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were issued a dividend of $0.0518 per share. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Tuesday, March 12th. Centerra Gold’s payout ratio is currently -54.05%.

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.