Centerra Gold Inc. (NYSE:CGAU) Receives $11.00 Consensus Target Price from Brokerages

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) has been given an average recommendation of "Moderate Buy" by the five research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $11.00.

CGAU has been the subject of several analyst reports. Desjardins raised shares of Centerra Gold to a "moderate buy" rating in a research report on Thursday. CIBC reissued a "neutral" rating and issued a $13.00 target price (up previously from $11.00) on shares of Centerra Gold in a report on Wednesday, July 10th. Finally, Cibc World Mkts downgraded Centerra Gold from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 10th.

Centerra Gold Stock Down 7.9 %

Shares of NYSE:CGAU traded down $0.56 on Friday, hitting $6.52. 1,642,666 shares of the company traded hands, compared to its average volume of 632,914. The stock has a 50 day simple moving average of $7.09 and a 200-day simple moving average of $6.86. The company has a market cap of $1.38 billion, a PE ratio of 10.35 and a beta of 0.98. Centerra Gold has a 52 week low of $4.47 and a 52 week high of $7.82.

Centerra Gold (NYSE:CGAU - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.07. The business had revenue of $282.31 million during the quarter. Centerra Gold had a net margin of 10.68% and a return on equity of 10.72%. During the same quarter in the prior year, the business posted ($0.20) earnings per share. As a group, sell-side analysts anticipate that Centerra Gold will post 0.84 earnings per share for the current year.

Centerra Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.052 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from Centerra Gold's previous quarterly dividend of $0.05. This represents a $0.21 dividend on an annualized basis and a yield of 3.19%. Centerra Gold's payout ratio is currently 31.75%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CGAU. CWM LLC purchased a new position in shares of Centerra Gold during the 3rd quarter worth $57,000. Vanguard Personalized Indexing Management LLC grew its holdings in Centerra Gold by 12.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company's stock valued at $96,000 after purchasing an additional 1,573 shares during the period. Virtu Financial LLC bought a new position in shares of Centerra Gold in the first quarter worth about $113,000. DekaBank Deutsche Girozentrale bought a new position in shares of Centerra Gold in the second quarter worth about $131,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Centerra Gold during the 2nd quarter valued at about $154,000. 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.