Centerra Gold (TSE:CG) Downgraded to Neutral by CIBC

CIBC downgraded its stock rating Centerra Gold (TSE:CG – Free Report) from an outform rating to a neutral rating in a research report on Wednesday, BayStreet.CA reports. The brokerage now has a price target of C$13.00 on the stock, up from a previous price target of C$11.00.

Several other analysts also recently issued reports on the stock. Canaccord Genuity Group raised their price objective for shares of Centerra Gold from CAD10.75 to CAD11.00 in a research note on Tuesday, April 23. Bank of America raised their price objective for Centerra Gold from CAD7.55 to CAD8.50 in a report on Tuesday, April 9. National Bankshares raised their price objective for Centerra Gold from CAD11.25 to CAD12.00 and gave the stock an outperform rating in a research note on Monday, June 10. National Bank Financial re-issued an outperform overweight rating for shares of Centerra Gold in a research note on Monday, April 8. Finally, Cormark raised their price objective for Centerra Gold from CAD13.00 to CAD13.90 in a research note on Wednesday, May 15. One analyst rated the stock as a “hold,” while five gave the company a “buy” rating. According to MarketBeat data, the company’s shares currently have an average rating of “Moderate Buy” and a consensus price target of CAD 11.29.

Check out our latest CG research report

Centerra Gold shares fall 1.4%

CG shares opened at C$9.19 on Wednesday. Centerra Gold has a 12-month low of C$6.07 and a 12-month high of C$10.25. The stock has a market capitalization of C$1.97 billion, a P/E ratio of 25.53, a P/E/G ratio of 1.26, and a beta of 1.19. The company has a current liquidity ratio of 3.22, a current ratio of 3.24 and a debt-to-equity ratio of 1.29. The company has a 50-day simple moving average of C$9.32 and a 200-day simple moving average of C$8.21.

Centerra Gold (TSE:CG – Get Free Report) last announced its financial results on Tuesday, May 14. The company reported CAD$0.19 earnings per share for the quarter, missing the analyst consensus of CAD$0.21 by CAD$0.02. Centerra Gold had a net margin of 4.99% and a return on equity of 3.40%. The company had revenue of CAD$412.37 million for the quarter. Research analysts, on average, expect Centerra Gold to post 0.887963 earnings per share for the current year.

Centerra Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12. Investors of record on Wednesday, June 12 received a dividend of $0.07 per share. The record date was Wednesday, May 29. This represents a dividend of $0.28 annualized and a dividend yield of 3.05%. Centerra Gold’s dividend payout ratio is 77.78%.

Buying and selling confidential information

In other Centerra Gold news, Director Craig Stephen Macdougall bought 10,500 shares of the company’s stock in a transaction that occurred on Thursday, May 30. The shares were purchased at an average price of C$9.56 per share, for a total value of C$100,330.65. In the last quarter, company insiders bought 11,012 shares of the company’s stock valued at $105,101. 0.23% of the stock is owned by company insiders.

About Centerra Gold

(Download the free report)

Centerra Gold Inc., a gold mining company, is engaged in the acquisition, exploration, development and exploitation of gold and copper deposits in North America, Turkey and internationally. The company explores for gold, copper and molybdenum deposits. Its flagship projects are the wholly owned Mount Milligan gold and copper mine in British Columbia, Canada; and the Öksüt gold mine in Turkey.

Further reading

Analyst Recommendations for Centerra Gold (TSE:CG)

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