Centerra Gold (NYSE:CGAU) Given New $11.00 Price Target at Scotiabank

Centerra Gold (NYSE:CGAU - Free Report) had its price target lifted by Scotiabank from $9.00 to $11.00 in a research report sent to investors on Monday, MarketBeat.com reports. They currently have a sector outperform rating on the stock.

A number of other brokerages have also recently commented on CGAU. Desjardins cut Centerra Gold from a "moderate buy" rating to a "hold" rating in a research report on Thursday, February 13th. National Bankshares reissued an "outperform" rating on shares of Centerra Gold in a research report on Wednesday, April 2nd. National Bank Financial raised shares of Centerra Gold to a "strong-buy" rating in a report on Friday, March 21st. Raymond James reaffirmed an "outperform" rating on shares of Centerra Gold in a report on Friday, April 4th. Finally, Cormark cut Centerra Gold from a "moderate buy" rating to a "hold" rating in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $12.00.

Centerra Gold Stock Performance

CGAU traded down $0.13 during mid-day trading on Monday, reaching $6.91. 660,674 shares of the stock were exchanged, compared to its average volume of 844,181. Centerra Gold has a 1 year low of $5.41 and a 1 year high of $7.82. The stock has a market capitalization of $1.45 billion, a PE ratio of 19.18 and a beta of 0.81. The company has a 50 day moving average price of $6.15 and a two-hundred day moving average price of $6.25.

Centerra Gold (NYSE:CGAU - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). The firm had revenue of $302.40 million during the quarter, compared to analysts' expectations of $316.92 million. Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. Sell-side analysts expect that Centerra Gold will post 0.59 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $0.07 per share. This is an increase from Centerra Gold's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.06%. Centerra Gold's dividend payout ratio (DPR) is currently 52.78%.

Institutional Investors Weigh In On Centerra Gold

Several hedge funds have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. boosted its stake in Centerra Gold by 30.1% during the 4th quarter. Donald Smith & CO. Inc. now owns 8,723,060 shares of the company's stock valued at $49,634,000 after purchasing an additional 2,017,756 shares during the last quarter. Amundi lifted its position in Centerra Gold by 168.6% during the fourth quarter. Amundi now owns 2,628,623 shares of the company's stock valued at $15,377,000 after purchasing an additional 1,650,160 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Centerra Gold by 24.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,808,773 shares of the company's stock worth $33,028,000 after purchasing an additional 1,126,825 shares during the last quarter. Man Group plc grew its position in Centerra Gold by 43.2% in the 4th quarter. Man Group plc now owns 3,038,739 shares of the company's stock worth $17,283,000 after purchasing an additional 916,255 shares during the period. Finally, American Century Companies Inc. raised its stake in Centerra Gold by 34.1% during the 4th quarter. American Century Companies Inc. now owns 3,291,860 shares of the company's stock valued at $18,733,000 after buying an additional 836,777 shares during the last quarter. 55.40% of the stock is owned by 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.