CIBC Forecasts Strong Price Appreciation for Centerra Gold (TSE:CG) Stock

Centerra Gold (TSE:CG - Free Report) had its target price upped by CIBC from C$9.80 to C$10.30 in a research report report published on Thursday morning,BayStreet.CA reports. They currently have a neutral rating on the stock.

A number of other equities analysts also recently issued reports on CG. National Bankshares increased their price target on shares of Centerra Gold from C$12.00 to C$12.50 and gave the stock an "outperform" rating in a research note on Wednesday, March 19th. TD Securities decreased their target price on Centerra Gold from C$13.00 to C$12.00 and set a "buy" rating for the company in a research report on Friday, March 7th. Cormark cut Centerra Gold from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Royal Bank of Canada lowered their price objective on Centerra Gold from C$12.00 to C$11.00 in a research report on Tuesday, January 7th. Finally, Desjardins cut shares of Centerra Gold from a "buy" rating to a "hold" rating and dropped their target price for the company from C$12.75 to C$11.00 in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of C$11.58.

Centerra Gold Trading Up 0.9 %

Centerra Gold stock traded up C$0.08 during mid-day trading on Thursday, reaching C$8.82. 225,667 shares of the company traded hands, compared to its average volume of 771,723. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.60 and a quick ratio of 3.24. Centerra Gold has a 52-week low of C$7.68 and a 52-week high of C$10.59. The firm has a market capitalization of C$1.32 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 1.26 and a beta of 1.23. The firm's 50 day moving average price is C$8.78 and its 200 day moving average price is C$8.91.

Centerra Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 27th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.28 annualized dividend and a dividend yield of 3.17%. Centerra Gold's dividend payout ratio is presently 40.58%.

Insider Activity

In related news, Director Paul Botond Stilicho Tomory sold 8,563 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of C$8.28, for a total transaction of C$70,901.64. Also, Director Paul Nicholas Wright bought 35,000 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average price of C$8.11 per share, for a total transaction of C$283,752.00. Corporate insiders own 0.21% of the company's stock.

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.