Centerra Gold (NYSE:CGAU) PT Raised to $11.00 at CIBC

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

Several other research analysts have also weighed in on the company. BMO Capital Markets initiated coverage on Centerra Gold in a research report on Wednesday, February 21st. They issued an outperform rating on the stock. Raymond James cut their price objective on Centerra Gold from $12.00 to $11.00 and set an outperform rating on the stock in a research report on Friday, December 29th. Finally, National Bank Financial reissued an outperform overweight rating on shares of Centerra Gold in a research report on Monday, April 8th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Centerra Gold has a consensus rating of Buy and an average target price of $9.78.

Centerra Gold Stock Up 0.1 %

CGAU stock opened at $6.07 on Monday. Centerra Gold has a 52-week low of $4.47 and a 52-week high of $7.43. The stock’s fifty day simple moving average is $5.58 and its 200-day simple moving average is $5.51. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -16.39 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). Centerra Gold had a positive return on equity of 0.62% and a negative net margin of 7.43%. The business had revenue of $340.00 million for the quarter. As a group, analysts anticipate 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. Shareholders of record on Wednesday, March 13th were given a $0.0518 dividend. The ex-dividend date was Tuesday, March 12th. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 annualized dividend and a yield of 3.42%. Centerra Gold’s dividend payout ratio (DPR) is -43.24%.

Institutional Trading of Centerra Gold

Hedge funds and other institutional investors have recently modified their holdings of the business. Qube Research & Technologies Ltd acquired a new position in Centerra Gold in the third quarter worth about $31,000. Versor Investments LP acquired a new position in Centerra Gold in the third quarter worth about $52,000. First Trust Advisors LP acquired a new position in Centerra Gold in the fourth quarter worth about $64,000. Heron Bay Capital Management acquired a new position in Centerra Gold in the fourth quarter worth about $77,000. Finally, Trexquant Investment LP acquired a new position in Centerra Gold in the third quarter valued at approximately $77,000. 55.40% of the stock is owned by hedge funds and other institutional investors.

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.