Centerra Gold (NYSE:CGAU) Given New $11.00 Price Target at CIBC

Centerra Gold (NYSE:CGAU) had its target price lifted by CIBC from $9.50 to $11.00 in a research note published on Monday morning, Benzinga reports. CIBC currently has an outperformer rating on the stock.

Other analysts also recently issued reports about the company. BMO Capital Markets began coverage on Centerra Gold in a research report on Wednesday, February 21st. They set an outperform rating for the company. National Bank Financial reaffirmed an outperform overweight rating on shares of Centerra Gold in a research report on Monday, April 8th. Finally, Raymond James dropped their target price on Centerra Gold from $12.00 to $11.00 and set an outperform rating for the company in a research report on Friday, December 29th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $9.78.

Centerra Gold Stock Performance

Shares of NYSE:CGAU opened at $6.00 on Monday. The business has a 50-day moving average price of $5.53 and a 200 day moving average price of $5.50. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -16.20 and a beta of 0.98. Centerra Gold has a 12-month low of $4.47 and a 12-month high of $7.53.

Centerra Gold (NYSE:CGAU) last issued 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 business 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%. As a group, equities research analysts predict that Centerra Gold will post 0.51 earnings per share 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 paid a $0.0518 dividend. This represents a $0.21 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Tuesday, March 12th. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio (DPR) is presently -54.05%.

Hedge Funds Weigh In On Centerra Gold

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Qube Research & Technologies Ltd purchased a new position in shares of Centerra Gold in the 3rd quarter valued at about $31,000. Versor Investments LP purchased a new stake in Centerra Gold during the third quarter worth approximately $52,000. First Trust Advisors LP purchased a new stake in Centerra Gold during the fourth quarter worth approximately $64,000. Heron Bay Capital Management purchased a new stake in Centerra Gold during the fourth quarter worth approximately $77,000. Finally, Trexquant Investment LP purchased a new stake in Centerra Gold during the third quarter worth approximately $77,000. Hedge funds and other institutional investors own 55.40% 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.