CIBC Raises Centerra Gold (NYSE:CGAU) Price Target to $11.00

Centerra Gold (NYSE:CGAU) had its price target boosted by CIBC from $9.50 to $11.00 in a research note released on Monday, Benzinga reports. CIBC currently has an outperformer rating on the stock.

A number of other brokerages have also issued reports on CGAU. BMO Capital Markets started coverage on Centerra Gold in a research report on Wednesday, February 21st. They issued an outperform rating on the stock. National Bank Financial reissued an outperform overweight rating on shares of Centerra Gold in a research report on Monday, April 8th. Finally, Raymond James dropped their target price on Centerra Gold from $12.00 to $11.00 and set an outperform rating on the stock in a research report on Friday, December 29th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $9.78.

Centerra Gold Price Performance

NYSE CGAU opened at $6.06 on Monday. The firm has a market cap of $1.30 billion, a P/E ratio of -16.38 and a beta of 0.98. The stock’s 50-day moving average is $5.56 and its 200-day moving average is $5.51. Centerra Gold has a one year low of $4.47 and a one year high of $7.46.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The business had revenue of $340.00 million for the quarter. Centerra Gold had a positive return on equity of 0.62% and a negative net margin of 7.43%. Equities analysts anticipate that Centerra Gold will post 0.51 EPS for the current year.

Centerra Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 13th were paid a $0.0518 dividend. This represents a $0.21 dividend on an annualized basis and a yield of 3.42%. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, March 12th. Centerra Gold’s dividend payout ratio (DPR) is currently -40.54%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CGAU. Qube Research & Technologies Ltd acquired a new stake in Centerra Gold during the 3rd quarter worth approximately $31,000. Versor Investments LP acquired a new stake in Centerra Gold during the 3rd quarter worth approximately $52,000. First Trust Advisors LP acquired a new stake in Centerra Gold during the 4th quarter worth approximately $64,000. Heron Bay Capital Management acquired a new stake in Centerra Gold during the 4th quarter worth approximately $77,000. Finally, Trexquant Investment LP acquired a new stake in Centerra Gold during the 3rd quarter worth approximately $77,000. 55.40% of the stock is currently owned by institutional investors.

About Centerra Gold

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.