CIBC Increases Centerra Gold (NYSE:CGAU) Price Target to $11.00

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

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

Centerra Gold Stock Performance

NYSE CGAU opened at $6.00 on Monday. The business’s 50-day moving average price is $5.53 and its 200 day moving average price is $5.50. Centerra Gold has a twelve month low of $4.47 and a twelve month high of $7.53. The company has a market capitalization of $1.29 billion, a PE ratio of -16.20 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last released its earnings results on Thursday, February 22nd. The company reported $0.28 earnings per share 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. Equities analysts predict that Centerra Gold will post 0.51 EPS for the current year.

Centerra Gold Increases Dividend

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

Institutional Investors Weigh In On Centerra Gold

A number of large investors have recently modified their holdings of CGAU. Cibc World Market Inc. grew its stake in shares of Centerra Gold by 329.5% in the first quarter. Cibc World Market Inc. now owns 417,805 shares of the company’s stock valued at $4,111,000 after buying an additional 320,529 shares in the last quarter. Vontobel Holding Ltd. grew its stake in Centerra Gold by 125.9% during the 1st quarter. Vontobel Holding Ltd. now owns 23,743 shares of the company’s stock valued at $233,000 after purchasing an additional 13,233 shares in the last quarter. Vanguard Group Inc. grew its stake in Centerra Gold by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 7,156,995 shares of the company’s stock valued at $70,424,000 after purchasing an additional 141,381 shares in the last quarter. Mackenzie Financial Corp grew its stake in Centerra Gold by 20.1% during the 1st quarter. Mackenzie Financial Corp now owns 679,096 shares of the company’s stock valued at $6,687,000 after purchasing an additional 113,695 shares in the last quarter. Finally, Bridgewater Associates LP grew its stake in Centerra Gold by 145.3% during the 1st quarter. Bridgewater Associates LP now owns 67,617 shares of the company’s stock valued at $665,000 after purchasing an additional 40,049 shares in the last quarter. Institutional investors and hedge funds 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.