Centerra Gold (NYSE:CGAU) Earns “Neutral” Rating from CIBC

Centerra Gold (NYSE:CGAUGet Free Report)‘s stock had its “neutral” rating restated by analysts at CIBC in a research report issued on Wednesday, Benzinga reports. They currently have a $13.00 target price on the stock, up from their prior target price of $11.00. CIBC’s price target indicates a potential upside of 92.88% from the company’s current price.

Several other analysts have also issued reports on the company. Scotiabank upped their target price on Centerra Gold from $8.00 to $9.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 23rd. National Bank Financial restated an “outperform overweight” rating on shares of Centerra Gold in a research note on Monday, April 8th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.80.

Check Out Our Latest Analysis on CGAU

Centerra Gold Stock Performance

CGAU traded down $0.09 on Wednesday, hitting $6.74. 496,623 shares of the company were exchanged, compared to its average volume of 476,725. Centerra Gold has a 12 month low of $4.47 and a 12 month high of $7.51. The company has a market cap of $1.44 billion, a PE ratio of 25.04 and a beta of 0.98. The stock’s fifty day moving average is $6.80 and its 200-day moving average is $6.04.

Centerra Gold (NYSE:CGAUGet Free Report) last released its earnings results on Tuesday, May 14th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). Centerra Gold had a return on equity of 5.58% and a net margin of 4.99%. The company had revenue of $305.88 million for the quarter. During the same quarter in the previous year, the firm earned ($0.24) EPS. As a group, equities research analysts expect that Centerra Gold will post 0.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Centerra Gold

A number of large investors have recently modified their holdings of the business. Donald Smith & CO. Inc. raised its position in Centerra Gold by 27.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 9,879,956 shares of the company’s stock worth $58,885,000 after purchasing an additional 2,156,920 shares during the last quarter. Pale Fire Capital SE raised its position in Centerra Gold by 1,136.9% during the 4th quarter. Pale Fire Capital SE now owns 1,807,787 shares of the company’s stock worth $10,774,000 after purchasing an additional 1,661,638 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Centerra Gold in the 4th quarter worth about $9,540,000. Van ECK Associates Corp raised its position in shares of Centerra Gold by 7.6% in the 1st quarter. Van ECK Associates Corp now owns 22,034,754 shares of the company’s stock worth $130,191,000 after acquiring an additional 1,552,601 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Centerra Gold by 309.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,275,800 shares of the company’s stock worth $7,527,000 after acquiring an additional 964,294 shares in the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

Centerra Gold Company Profile

(Get Free Report)

Centerra Gold Inc, a gold mining company, engages in the acquisition, exploration, development, and operation of gold and copper properties in North America, Turkey, and internationally. The company explores for gold, copper, and molybdenum deposits. Its flagship projects are the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt gold mine located in Turkey.

Featured Stories

Receive News & Ratings for Centerra Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centerra Gold and related companies with MarketBeat.com's FREE daily email newsletter.