Centerra Gold Inc. (NYSE:CGAU) Receives $16.00 Average Target Price from Brokerages

Centerra Gold Inc. (NYSE:CGAU) has been given a consensus rating of “Moderate Buy” by the nine research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $16.00.

A number of brokerages recently weighed in on CGAU. Scotiabank raised their price objective on Centerra Gold from $13.50 to $19.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Centerra Gold in a research report on Wednesday, February 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Centerra Gold in a research note on Monday, December 29th. BMO Capital Markets upgraded shares of Centerra Gold from a “hold” rating to an “outperform” rating in a report on Tuesday, January 20th. Finally, Wall Street Zen cut shares of Centerra Gold from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th.

Centerra Gold Stock Down 5.2%

CGAU opened at $16.52 on Tuesday. The stock has a market cap of $3.30 billion, a PE ratio of 5.82, a P/E/G ratio of 0.87 and a beta of 0.83. The company has a quick ratio of 1.65, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. Centerra Gold has a 52 week low of $5.41 and a 52 week high of $21.17. The business’s fifty day simple moving average is $18.22 and its 200 day simple moving average is $14.12.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.07. Centerra Gold had a return on equity of 12.42% and a net margin of 42.18%.The firm had revenue of $401.60 million during the quarter, compared to analyst estimates of $355.39 million. As a group, research analysts expect that Centerra Gold will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, March 12th. Centerra Gold’s dividend payout ratio is presently 7.39%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CGAU. Janney Montgomery Scott LLC lifted its stake in shares of Centerra Gold by 2.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 24,860 shares of the company’s stock valued at $357,000 after acquiring an additional 575 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Centerra Gold by 2.1% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 36,939 shares of the company’s stock worth $531,000 after acquiring an additional 747 shares during the last quarter. Burkett Financial Services LLC increased its stake in Centerra Gold by 27.5% in the 4th quarter. Burkett Financial Services LLC now owns 3,569 shares of the company’s stock worth $51,000 after purchasing an additional 769 shares during the period. CWM LLC increased its stake in Centerra Gold by 5.3% in the 4th quarter. CWM LLC now owns 16,300 shares of the company’s stock worth $234,000 after purchasing an additional 820 shares during the period. Finally, Osaic Holdings Inc. lifted its position in Centerra Gold by 63.0% in the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock valued at $34,000 after purchasing an additional 1,839 shares during the last quarter. 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.