Analysts Set Centerra Gold Inc. (NYSE:CGAU) PT at $17.50

Shares of Centerra Gold Inc. (NYSE:CGAU) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $17.50.

A number of analysts recently commented on CGAU shares. Wall Street Zen raised Centerra Gold from a “hold” rating to a “buy” rating in a research note on Sunday, June 21st. Scotiabank reissued an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, July 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Centerra Gold in a report on Friday, March 27th.

Hedge Funds Weigh In On Centerra Gold

A number of institutional investors have recently bought and sold shares of CGAU. Precision Wealth Strategies LLC purchased a new position in Centerra Gold during the first quarter valued at $1,988,000. JPMorgan Chase & Co. boosted its holdings in shares of Centerra Gold by 146.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,367,172 shares of the company’s stock valued at $14,670,000 after buying an additional 811,803 shares in the last quarter. Intact Investment Management Inc. grew its position in shares of Centerra Gold by 166.7% in the 4th quarter. Intact Investment Management Inc. now owns 1,514,820 shares of the company’s stock worth $21,807,000 after buying an additional 946,920 shares during the period. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. increased its stake in shares of Centerra Gold by 99.8% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 94,100 shares of the company’s stock worth $1,366,000 after acquiring an additional 47,000 shares in the last quarter. Finally, Hillsdale Investment Management Inc. lifted its position in Centerra Gold by 62.9% during the 4th quarter. Hillsdale Investment Management Inc. now owns 3,513,875 shares of the company’s stock valued at $50,678,000 after acquiring an additional 1,356,660 shares during the period. 55.40% of the stock is owned by institutional investors.

Centerra Gold Trading Up 4.1%

NYSE CGAU opened at $16.71 on Monday. Centerra Gold has a fifty-two week low of $6.71 and a fifty-two week high of $21.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.60 and a current ratio of 2.41. The stock has a 50 day simple moving average of $16.36 and a two-hundred day simple moving average of $17.45. The stock has a market cap of $3.31 billion, a P/E ratio of 5.39, a price-to-earnings-growth ratio of 0.61 and a beta of 0.81.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Centerra Gold had a return on equity of 14.90% and a net margin of 40.32%.The firm had revenue of $484.70 million for the quarter, compared to analyst estimates of $373.47 million. On average, analysts forecast that Centerra Gold will post 1.61 earnings per share for the current year.

Centerra Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.7%. Centerra Gold’s payout ratio is presently 6.77%.

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.