Scotiabank Issues Pessimistic Forecast for Centerra Gold (NYSE:CGAU) Stock Price

Centerra Gold (NYSE:CGAU - Free Report) had its target price reduced by Scotiabank from $10.00 to $9.00 in a report released on Wednesday morning,Benzinga reports. They currently have 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 research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Centerra Gold currently has a consensus rating of "Moderate Buy" and an average price target of $11.00.

Centerra Gold Stock Performance

CGAU traded up $0.06 during trading on Wednesday, hitting $5.87. The stock had a trading volume of 846,914 shares, compared to its average volume of 713,271. The stock has a 50 day simple moving average of $5.91 and a two-hundred day simple moving average of $6.58. The company has a market capitalization of $1.23 billion, a PE ratio of 12.22 and a beta of 0.90. Centerra Gold has a twelve month low of $4.47 and a twelve month high of $7.82.

Centerra Gold (NYSE:CGAU - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. The business had revenue of $323.93 million for the quarter. During the same quarter last year, the business posted $0.20 EPS. On average, equities research analysts anticipate that Centerra Gold will post 0.77 EPS for the current year.

Centerra Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a dividend of $0.052 per share. This is an increase 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 dividend on an annualized basis and a dividend yield of 3.55%. Centerra Gold's payout ratio is 45.83%.

Hedge Funds Weigh In On Centerra Gold

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

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.