Bank of America Raises Centerra Gold (TSE:CG) Price Target to C$8.50

Centerra Gold (TSE:CG) had its price target lifted by Bank of America from C$7.55 to C$8.50 in a report published on Tuesday, BayStreet.CA reports.

A number of other research firms have also recently weighed in on CG. National Bank Financial reissued an outperform spec overweight rating on shares of Centerra Gold in a research note on Wednesday, January 3rd. Canaccord Genuity Group reduced their target price on shares of Centerra Gold from C$11.75 to C$10.75 and set a buy rating on the stock in a research report on Thursday, March 21st. Raymond James lifted their price objective on Centerra Gold from C$11.00 to C$12.00 in a research report on Friday, January 12th. Desjardins decreased their price objective on Centerra Gold from C$12.00 to C$11.75 and set a buy rating for the company in a research note on Tuesday, January 9th. Finally, National Bankshares set a C$9.50 target price on shares of Centerra Gold and gave the company an outperform rating in a research note on Friday, February 16th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of Buy and an average target price of C$10.23.

Centerra Gold Price Performance

TSE CG opened at C$8.38 on Tuesday. The stock has a 50-day simple moving average of C$7.45 and a 200 day simple moving average of C$7.41. Centerra Gold has a twelve month low of C$6.07 and a twelve month high of C$10.28. The stock has a market capitalization of C$1.81 billion, a PE ratio of -16.12, a P/E/G ratio of 1.26 and a beta of 1.16. The company has a debt-to-equity ratio of 1.45, a quick ratio of 3.24 and a current ratio of 3.25.

Centerra Gold (TSE:CG) last issued its quarterly earnings results on Thursday, February 22nd. The company reported C$0.38 EPS for the quarter, missing analysts’ consensus estimates of C$0.39 by C($0.01). The business had revenue of C$462.92 million for the quarter. Centerra Gold had a negative return on equity of 4.66% and a negative net margin of 7.42%. Research analysts anticipate that Centerra Gold will post 0.6367925 EPS for the current year.

Centerra Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 27th were paid a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.28 annualized dividend and a yield of 3.34%. Centerra Gold’s payout ratio is currently -53.85%.

Insider Buying and Selling

In other news, Senior Officer Darren Millman sold 110,274 shares of Centerra Gold stock in a transaction dated Friday, March 1st. The shares were sold at an average price of C$6.96, for a total value of C$766,955.67. 0.38% of the stock is currently owned by corporate insiders.

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.