Centerra Gold (NYSE:CGAU) Given New $9.50 Price Target at Scotiabank

Centerra Gold (NYSE:CGAU) had its price objective cut by Scotiabank from $12.00 to $9.50 in a report released on Tuesday morning,Benzinga reports. They currently have a sector outperform rating on the stock.

Other analysts also recently issued reports about the stock. Royal Bank Of Canada downgraded shares of Centerra Gold from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $13.00 to $14.00 in a research report on Wednesday, September 10th. National Bankshares reaffirmed an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, June 24th. CIBC reaffirmed an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, July 15th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Centerra Gold in a research report on Monday. Finally, Wall Street Zen raised shares of Centerra Gold from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.83.

Centerra Gold Trading Down 2.1%

Shares of Centerra Gold stock opened at $9.05 on Tuesday. The company’s fifty day simple moving average is $7.67 and its two-hundred day simple moving average is $7.01. The company has a market cap of $1.83 billion, a P/E ratio of 27.43, a PEG ratio of 2.51 and a beta of 0.82. Centerra Gold has a 12-month low of $5.41 and a 12-month high of $9.43.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.08. The business had revenue of $288.30 million for the quarter, compared to the consensus estimate of $319.42 million. Centerra Gold had a net margin of 6.21% and a return on equity of 9.12%. Analysts predict that Centerra Gold will post 0.59 EPS for the current fiscal year.

Centerra Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued a $0.07 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.28 annualized dividend and a yield of 3.1%. Centerra Gold’s payout ratio is 60.61%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CGAU. Goldman Sachs Group Inc. raised its holdings in Centerra Gold by 57.2% in the first quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock worth $84,739,000 after buying an additional 4,853,494 shares during the last quarter. Nuveen LLC purchased a new position in Centerra Gold in the first quarter worth about $14,634,000. Acadian Asset Management LLC lifted its stake in Centerra Gold by 26.2% during the 2nd quarter. Acadian Asset Management LLC now owns 8,494,055 shares of the company’s stock valued at $61,027,000 after acquiring an additional 1,761,904 shares during the period. Waratah Capital Advisors Ltd. lifted its stake in Centerra Gold by 29.9% during the 2nd quarter. Waratah Capital Advisors Ltd. now owns 6,678,897 shares of the company’s stock valued at $48,155,000 after acquiring an additional 1,537,692 shares during the period. Finally, Pale Fire Capital SE lifted its stake in Centerra Gold by 52.6% during the 1st quarter. Pale Fire Capital SE now owns 3,467,298 shares of the company’s stock valued at $22,017,000 after acquiring an additional 1,194,500 shares during the period. 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.