Centerra Gold Inc. (NYSE:CGAU) Receives Consensus Rating of “Moderate Buy” from Brokerages

Centerra Gold Inc. (NYSE:CGAUGet Rating) has been given an average rating of “Moderate Buy” by the nine analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $13.00.

CGAU has been the subject of a number of recent analyst reports. Scotiabank increased their target price on shares of Centerra Gold from C$12.50 to C$14.00 in a research report on Tuesday, April 5th. National Bank Financial increased their price target on Centerra Gold from C$14.50 to C$16.00 in a report on Wednesday, April 20th. TheStreet cut Centerra Gold from a “b” rating to a “c+” rating in a report on Wednesday, May 25th. Canaccord Genuity Group increased their price target on Centerra Gold from C$12.50 to C$12.75 and gave the stock a “buy” rating in a report on Tuesday, March 1st. Finally, Raymond James increased their price target on Centerra Gold from C$14.00 to C$15.00 in a report on Wednesday, April 20th.

Institutional investors and hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank lifted its holdings in shares of Centerra Gold by 1.2% in the 4th quarter. Toronto Dominion Bank now owns 185,244 shares of the company’s stock worth $1,428,000 after purchasing an additional 2,211 shares in the last quarter. National Bank of Canada FI bought a new position in Centerra Gold during the 4th quarter valued at $122,000. Condire Management LP lifted its stake in Centerra Gold by 15.2% during the 4th quarter. Condire Management LP now owns 6,065,676 shares of the company’s stock valued at $46,793,000 after acquiring an additional 800,000 shares in the last quarter. Wellington Management Group LLP lifted its stake in Centerra Gold by 13.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,950,009 shares of the company’s stock valued at $20,142,000 after acquiring an additional 361,108 shares in the last quarter. Finally, Versor Investments LP lifted its stake in Centerra Gold by 10.0% during the 4th quarter. Versor Investments LP now owns 150,101 shares of the company’s stock valued at $1,158,000 after acquiring an additional 13,668 shares in the last quarter. Institutional investors own 37.38% of the company’s stock.

NYSE:CGAU opened at $7.02 on Thursday. The company has a 50 day simple moving average of $8.38 and a two-hundred day simple moving average of $8.58. Centerra Gold has a fifty-two week low of $6.64 and a fifty-two week high of $10.57.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Wednesday, May 18th were issued a $0.054 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Tuesday, May 17th. Centerra Gold’s dividend payout ratio is currently -14.19%.

About Centerra Gold (Get Rating)

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 include the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt Gold Mine located in Turkey.

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Analyst Recommendations for Centerra Gold (NYSE:CGAU)

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