Centerra Gold (NYSE:CGAU) Has Been Rated Neutral by CIBC

CIBC maintains neutral rating on shares Centerra Gold (NYSE:CGAU – Free Report) in a research report published on Wednesday, Benzinga reports. The company now has a target price of $13.00 on the stock, up from the previous target price of $11.00.

Several other analysts have also recently commented on CGAU. Scotiabank raised their price objective on shares of Centerra Gold from $8.00 to $9.00 and gave the company an outperform sector rating in a research note on Thursday, May 23. National Bank Financial reaffirmed an outperform overweight rating on shares of Centerra Gold in a research note on Monday, April 8. One analyst has rated the stock a hold, while four have given the stock a buy rating. Centerra Gold currently has a consensus rating of Moderate Buy and an average price target of $9.80, based on data from MarketBeat.com.

Check out our latest CGAU analysis

Centerra Gold Share Results

NYSE:CGAU opened at $6.75 on Wednesday. Centerra Gold has a 52-week low of $4.47 and a 52-week high of $7.51. The stock has a market cap of $1.44 billion, a P/E ratio of 25.00 and a beta of 0.98. The company’s 50-day simple moving average is $6.81 and its 200-day simple moving average is $6.05.

Centerra Gold (NYSE:CGAU – Get Free Report) last released its quarterly financial results on Tuesday, May 14. The company reported $0.14 earnings per share for the quarter, missing the analyst consensus estimate of $0.15 by ($0.01). The company had revenue of $305.88 million for the quarter. Centerra Gold had a net margin of 4.99% and a return on equity of 5.58%. During the same quarter last year, the company earned ($0.24) per share. Research analysts, on average, forecast that Centerra Gold will post $0.78 per share for the current year.

Centerra Gold cuts dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12. Investors of record on Wednesday, May 29 received a dividend of $0.051. This represents an annual dividend of $0.20 and a dividend yield of 3.02%. The ex-dividend date was Wednesday, May 29. Centerra Gold’s dividend payout ratio is currently 74.07%.

Hedge funds weigh in on Centerra Gold

Large investors have recently changed their positions in the company. Heron Bay Capital Management acquired a new position in shares of Centerra Gold in the fourth quarter worth $77,000. Dynamic Technology Lab Private Ltd acquired a new position in Centerra Gold in the fourth quarter worth $98,000. Virtu Financial LLC acquired a new position in Centerra Gold in the first quarter worth $113,000. Russell Investments Group Ltd. increased its position in Centerra Gold by 943.8% in the fourth quarter. Russell Investments Group Ltd. now owns 65,020 shares of the company’s stock worth $390,000 after acquiring an additional 58,791 shares during the period. Finally, Trexquant Investment LP increased its position in Centerra Gold by 330.4% in the fourth quarter. Trexquant Investment LP now owns 67,298 shares of the company’s stock worth $401,000 after acquiring an additional 51,663 shares during the period. 55.40% of the shares are currently held by institutional investors and hedge funds.

Centerra Gold Company Profile

(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.

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