Centerra Gold Inc. (NYSE:CGAU) Receives $12.00 Average PT from Brokerages

Shares of Centerra Gold Inc. (NYSE:CGAU) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $12.00.

Several research firms recently commented on CGAU. Raymond James reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Friday, April 4th. Desjardins downgraded shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday, February 13th. Cormark downgraded shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 26th. Scotiabank reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Monday, April 14th. Finally, CIBC reaffirmed a “neutral” rating on shares of Centerra Gold in a report on Thursday, March 20th.

Centerra Gold Stock Up 0.9 %

Shares of CGAU stock opened at $6.69 on Friday. The company has a 50 day moving average of $6.19 and a 200-day moving average of $6.23. Centerra Gold has a 12-month low of $5.41 and a 12-month high of $7.82. The firm has a market cap of $1.40 billion, a P/E ratio of 18.58 and a beta of 0.81.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.03). Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. The company had revenue of $302.40 million for the quarter, compared to analysts’ expectations of $316.92 million. As a group, equities analysts expect that Centerra Gold will post 0.59 EPS for the current year.

Centerra Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, March 13th. This represents a $0.28 annualized dividend and a dividend yield of 4.19%. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s payout ratio is currently 52.78%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CGAU. Vise Technologies Inc. purchased a new position in shares of Centerra Gold in the 4th quarter valued at approximately $58,000. SG Americas Securities LLC purchased a new position in shares of Centerra Gold in the 4th quarter valued at approximately $59,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Centerra Gold in the 4th quarter valued at approximately $60,000. Susquehanna Advisors Group Inc. purchased a new position in shares of Centerra Gold in the 4th quarter valued at approximately $61,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Centerra Gold in the 4th quarter valued at approximately $79,000. 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.