Centerra Gold Inc. (NYSE:CGAU) Receives $17.50 Average Target Price from Brokerages

Centerra Gold Inc. (NYSE:CGAU) has received a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $21.00.

CGAU has been the subject of several analyst reports. Weiss Ratings raised Centerra Gold from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 31st. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Centerra Gold in a report on Thursday, July 30th. Scotiabank reissued an “outperform” rating on shares of Centerra Gold in a report on Tuesday, August 4th. Finally, Wall Street Zen cut Centerra Gold from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC acquired a new position in Centerra Gold during the second quarter worth about $28,000. Osaic Holdings Inc. boosted its position in Centerra Gold by 63.0% in the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock valued at $34,000 after buying an additional 1,839 shares during the period. Global Retirement Partners LLC bought a new position in Centerra Gold in the 4th quarter worth about $36,000. Pinnacle Holdings LLC purchased a new position in shares of Centerra Gold during the second quarter worth approximately $45,000. Finally, Leonteq Securities AG purchased a new position in shares of Centerra Gold during the fourth quarter worth approximately $72,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Centerra Gold Trading Down 3.1%

CGAU opened at $22.57 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.49 and a current ratio of 2.42. Centerra Gold has a one year low of $8.86 and a one year high of $24.52. The company has a market cap of $4.41 billion, a P/E ratio of 7.21, a PEG ratio of 0.87 and a beta of 0.86. The business’s 50-day simple moving average is $19.63 and its 200-day simple moving average is $18.38.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $442.71 million for the quarter, compared to analyst estimates of $394.27 million. Centerra Gold had a net margin of 36.92% and a return on equity of 15.35%. As a group, equities research analysts expect that Centerra Gold will post 1.63 EPS for the current fiscal year.

Centerra Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were paid a $0.07 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. Centerra Gold’s payout ratio is 6.39%.

Centerra Gold Company Profile

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.