Scotiabank Boosts Centerra Gold (NYSE:CGAU) Price Target to $21.00

Centerra Gold (NYSE:CGAU) had its target price lifted by equities researchers at Scotiabank from $19.00 to $21.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 12.74% from the stock’s previous close.

A number of other equities analysts also recently commented on CGAU. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Centerra Gold in a report on Friday, March 27th. BMO Capital Markets raised shares of Centerra Gold from a “hold” rating to an “outperform” rating in a report on Tuesday, January 20th. Wall Street Zen upgraded shares of Centerra Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 28th. Finally, Zacks Research cut shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Centerra Gold has an average rating of “Moderate Buy” and a consensus price target of $16.67.

Centerra Gold Price Performance

NYSE:CGAU opened at $18.63 on Wednesday. The company has a 50-day moving average of $18.56 and a 200-day moving average of $15.64. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 6.56, a PEG ratio of 1.18 and a beta of 0.90. Centerra Gold has a 52 week low of $6.30 and a 52 week high of $21.17. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.65 and a current ratio of 2.39.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The company had revenue of $401.60 million during the quarter, compared to the consensus estimate of $355.39 million. Centerra Gold had a net margin of 42.18% and a return on equity of 12.42%. As a group, equities research analysts anticipate that Centerra Gold will post 1.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Centerra Gold

Institutional investors have recently modified their holdings of the stock. Burkett Financial Services LLC bought a new position in shares of Centerra Gold in the third quarter worth about $30,000. TD Waterhouse Canada Inc. raised its stake in shares of Centerra Gold by 1,106.5% in the third quarter. TD Waterhouse Canada Inc. now owns 2,980 shares of the company’s stock worth $33,000 after acquiring an additional 2,733 shares during the last quarter. Osaic Holdings Inc. raised its stake in shares of Centerra Gold by 63.0% in the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock worth $34,000 after acquiring an additional 1,839 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Centerra Gold in the fourth quarter worth about $36,000. Finally, Leonteq Securities AG bought a new position in shares of Centerra Gold in the fourth quarter worth about $72,000. 55.40% of the stock is owned by institutional investors.

About Centerra Gold

Centerra Gold Inc is a gold mining company incorporated in Canada and headquartered in Toronto. The company specializes in the exploration, development and operation of precious metals properties, with a focus on gold production. Centerra’s portfolio includes the Mount Milligan mine in British Columbia, Canada, and the Otjikoto mine in Namibia. Both operations produce gold and copper concentrates and employ modern mining methods and processing facilities to optimize recovery rates and minimize environmental impact.

In addition to its producing assets, Centerra is advancing the development of its Greenstone Gold Project in Ontario, Canada, which, upon completion, is expected to become one of Canada’s largest gold mines.