Centerra Gold (TSE:CG) Hits New 1-Year High on Analyst Upgrade

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Shares of Centerra Gold Inc. (TSE:CG) reached a new 52-week high during trading on Friday after National Bank Financial raised their price target on the stock from C$14.50 to C$15.00. National Bank Financial currently has an outperform rating on the stock. Centerra Gold traded as high as C$14.24 and last traded at C$13.90, with a volume of 151132 shares traded. The stock had previously closed at C$13.52.

CG has been the subject of a number of other research reports. Scotiabank raised shares of Centerra Gold from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 4th. Canaccord Genuity lifted their price objective on Centerra Gold from C$16.00 to C$17.50 in a research report on Wednesday. CIBC upped their target price on Centerra Gold from C$12.25 to C$14.00 in a research report on Thursday, April 23rd. TD Securities upgraded Centerra Gold from a “hold” rating to a “buy” rating and lifted their price target for the company from C$12.50 to C$14.00 in a report on Wednesday, April 1st. Finally, Bank of America lowered their price target on Centerra Gold from C$14.00 to C$12.00 in a research note on Wednesday, March 4th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Centerra Gold presently has an average rating of “Buy” and a consensus target price of C$13.67.

In related news, Senior Officer Yousef Rehman sold 3,210 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of C$13.53, for a total value of C$43,431.30. Following the transaction, the insider now directly owns 16,308 shares of the company’s stock, valued at approximately C$220,647.24.

The company has a quick ratio of 1.17, a current ratio of 4.32 and a debt-to-equity ratio of 7.52. The company has a 50-day moving average price of C$11.15 and a 200-day moving average price of C$10.21. The company has a market capitalization of $4.03 billion and a price-to-earnings ratio of -31.82.

Centerra Gold (TSE:CG) last announced its earnings results on Friday, May 1st. The company reported C$0.22 earnings per share for the quarter, missing the consensus estimate of C$0.26 by C($0.04). The company had revenue of C$502.07 million during the quarter. Equities analysts expect that Centerra Gold Inc. will post 1.37 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, June 4th will be given a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $0.16 annualized dividend and a dividend yield of 1.16%. Centerra Gold’s dividend payout ratio is -36.78%.

Centerra Gold Company Profile (TSE:CG)

Centerra Gold Inc, a gold mining and exploration company, engages in the acquisition, exploration, development, and operation of gold and copper properties in North America, Asia, and internationally. Its flagship projects include the 100% owned Kumtor gold mine located in the Kyrgyz Republic; and the Mount Milligan gold-copper mine located in British Columbia, Canada.

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