Centerra Gold Inc. (NYSE:CGAU) Receives $11.00 Average PT from Analysts

Shares of Centerra Gold Inc. (NYSE:CGAU) have been given a consensus recommendation of “Moderate Buy” by the four ratings firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $11.00.

Separately, Desjardins upgraded shares of Centerra Gold to a “moderate buy” rating in a research report on Thursday, October 31st.

Institutional Investors Weigh In On Centerra Gold

Institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC raised its stake in shares of Centerra Gold by 594.6% in the 2nd quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company’s stock valued at $59,532,000 after purchasing an additional 7,586,370 shares during the period. Bank of Montreal Can raised its position in Centerra Gold by 158.9% in the 2nd quarter. Bank of Montreal Can now owns 2,433,241 shares of the company’s stock valued at $16,881,000 after buying an additional 1,493,349 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Centerra Gold by 36.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock valued at $31,514,000 after acquiring an additional 1,175,000 shares in the last quarter. American Century Companies Inc. boosted its position in Centerra Gold by 132.8% during the 2nd quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock worth $12,345,000 after acquiring an additional 1,047,142 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Centerra Gold during the 2nd quarter worth approximately $6,772,000. 55.40% of the stock is owned by institutional investors.

Centerra Gold Stock Up 0.2 %

Shares of Centerra Gold stock opened at $5.67 on Friday. Centerra Gold has a 12 month low of $4.47 and a 12 month high of $7.82. The business has a fifty day simple moving average of $6.24 and a 200 day simple moving average of $6.67. The stock has a market cap of $1.19 billion, a PE ratio of 11.81 and a beta of 0.89.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. The firm had revenue of $323.93 million during the quarter. During the same quarter last year, the company earned $0.20 EPS. Analysts expect that Centerra Gold will post 0.79 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.052 dividend. This represents a $0.21 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Wednesday, November 13th. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio is 41.67%.

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.