Centerra Gold (NYSE:CGAU) Price Target Cut to $9.00 by Analysts at Scotiabank

Centerra Gold (NYSE:CGAU - Free Report) had its price target lowered by Scotiabank from $10.00 to $9.00 in a research report report published on Wednesday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock. Scotiabank also issued estimates for Centerra Gold's FY2025 earnings at $0.45 EPS.

Separately, Desjardins raised shares of Centerra Gold to a "moderate buy" rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $11.00.

Centerra Gold Price Performance

NYSE CGAU traded down $0.19 on Wednesday, reaching $5.82. The stock had a trading volume of 813,968 shares, compared to its average volume of 698,424. The company has a market cap of $1.22 billion, a P/E ratio of 12.13 and a beta of 0.90. The firm has a fifty day moving average of $5.92 and a two-hundred day moving average of $6.58. Centerra Gold has a 1-year low of $4.47 and a 1-year high of $7.82.

Centerra Gold (NYSE:CGAU - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. The business had revenue of $323.93 million during the quarter. During the same quarter in the previous year, the business earned $0.20 EPS. Research analysts predict that Centerra Gold will post 0.79 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $0.052 per share. This is a boost from Centerra Gold's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.21 annualized dividend and a yield of 3.57%. Centerra Gold's dividend payout ratio is currently 43.75%.

Institutional Investors Weigh In On Centerra Gold

A number of large investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Centerra Gold by 36.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company's stock worth $31,514,000 after buying an additional 1,175,000 shares in the last quarter. Jane Street Group LLC grew its position in Centerra Gold by 145.6% in the third quarter. Jane Street Group LLC now owns 419,992 shares of the company's stock valued at $3,015,000 after acquiring an additional 249,004 shares during the last quarter. Geode Capital Management LLC raised its stake in Centerra Gold by 378.7% during the third quarter. Geode Capital Management LLC now owns 454,939 shares of the company's stock worth $4,152,000 after acquiring an additional 359,905 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Centerra Gold by 29.0% in the second quarter. Renaissance Technologies LLC now owns 327,800 shares of the company's stock worth $2,203,000 after acquiring an additional 73,600 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Centerra Gold in the 3rd quarter valued at approximately $4,454,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Centerra Gold Company Profile

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.