Centerra Gold (TSE:CG) Stock Gets Price Target Cut from Desjardins

Key Points

• Desjardins lowered Centerra Gold’s price target to C$33 from C$34 while maintaining a “hold” rating, implying approximately 15% upside from the prior close.
• Analyst sentiment remains generally positive: Centerra has a consensus “Moderate Buy” rating from seven analysts, with an average price target of C$31.43.
• Shares fell C$2.28 to C$28.68 in Thursday trading. The company recently reported C$0.55 in quarterly EPS on C$629 million in revenue, with a 37.72% net margin and 30.90% return on equity.

Centerra Gold (TSE:CG - Get Free Report) had its price target decreased by research analysts at Desjardins from C$34.00 to C$33.00 in a research report issued to clients and investors on Thursday, BayStreet reports. The firm presently has a "hold" rating on the stock. Desjardins's target price would suggest a potential upside of 15.06% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. ATB Cormark Capital Markets increased their target price on Centerra Gold from C$26.00 to C$27.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 30th. Raymond James Financial lifted their price target on Centerra Gold from C$28.00 to C$29.00 and gave the company a "market perform" rating in a research report on Thursday, July 30th. TD boosted their price objective on Centerra Gold from C$31.00 to C$32.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Finally, Canadian Imperial Bank of Commerce increased their price objective on Centerra Gold from C$37.00 to C$38.00 in a report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$31.43.

Centerra Gold Stock Performance

Shares of TSE CG traded down C$2.28 during midday trading on Thursday, hitting C$28.68. The company's stock had a trading volume of 801,907 shares, compared to its average volume of 839,104. The stock has a fifty day moving average price of C$31.40 and a 200 day moving average price of C$26.76. Centerra Gold has a one year low of C$14.65 and a one year high of C$33.94. The company has a current ratio of 2.42, a quick ratio of 3.24 and a debt-to-equity ratio of 2.11. The firm has a market capitalization of C$5.61 billion, a price-to-earnings ratio of 9.16, a P/E/G ratio of 1.26 and a beta of 1.69.

Centerra Gold (TSE:CG - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported C$0.55 EPS for the quarter. Centerra Gold had a net margin of 37.72% and a return on equity of 30.90%. The company had revenue of C$629.00 million during the quarter.

Insider Activity at Centerra Gold

In other news, Director Wendy Wai Ting Kei purchased 1,000 shares of Centerra Gold stock in a transaction dated Thursday, August 13th. The stock was purchased at an average cost of C$29.76 per share, for a total transaction of C$29,760.00. Following the transaction, the director directly owned 5,172 shares of the company's stock, valued at approximately C$153,918.72. This trade represents a 23.97% increase in their ownership of the stock. Also, insider Yousef Rehman sold 57,636 shares of the business's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of C$33.50, for a total transaction of C$1,930,806.00. Following the transaction, the insider owned 77,918 shares of the company's stock, valued at C$2,610,253. This trade represents a 42.52% decrease in their ownership of the stock. Corporate insiders own 0.21% of the company's stock.

Centerra Gold Company Profile

Centerra Gold Inc is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. The Company also owns the Kemess Project in British Columbia, Canada, the Goldfield Project in Nevada, United States, and owns and operates the Molybdenum Business Unit in the United States and Canada.

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