Brokerages Set Centerra Gold Inc. (NYSE:CGAU) Target Price at $13.00

Key Points

• Centerra Gold Inc. has received a consensus rating of "Moderate Buy" from nine analysts, with an average 1-year price target set at $13.00.
• Significant institutional activity includes Goldman Sachs increasing its holdings by 57.2%, now owning over 13 million shares valued at approximately $84.7 million.
• The company announced a quarterly dividend of $0.07 per share, yielding 3.6% annually, with a payout ratio of 60.61%.

Shares of Centerra Gold Inc. (NYSE:CGAU - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the nine analysts that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $13.00.

Several research analysts have recently weighed in on the stock. Cibc World Mkts upgraded shares of Centerra Gold from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. National Bankshares reaffirmed an "outperform" rating on shares of Centerra Gold in a research report on Tuesday, June 24th. BMO Capital Markets cut shares of Centerra Gold from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 8th. CIBC reaffirmed an "outperform" rating on shares of Centerra Gold in a research report on Tuesday, July 15th. Finally, Wall Street Zen raised shares of Centerra Gold from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th.

Institutional Investors Weigh In On Centerra Gold

Several institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its position in Centerra Gold by 57.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company's stock worth $84,739,000 after buying an additional 4,853,494 shares in the last quarter. Royal Bank of Canada lifted its position in Centerra Gold by 9.2% during the 1st quarter. Royal Bank of Canada now owns 8,684,513 shares of the company's stock worth $55,146,000 after buying an additional 734,104 shares in the last quarter. Acadian Asset Management LLC lifted its position in Centerra Gold by 26.2% during the 2nd quarter. Acadian Asset Management LLC now owns 8,494,055 shares of the company's stock worth $61,027,000 after buying an additional 1,761,904 shares in the last quarter. Vanguard Group Inc. lifted its position in Centerra Gold by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 8,310,457 shares of the company's stock worth $52,722,000 after buying an additional 55,839 shares in the last quarter. Finally, Ruffer LLP lifted its position in Centerra Gold by 0.9% during the 2nd quarter. Ruffer LLP now owns 7,153,309 shares of the company's stock worth $51,590,000 after buying an additional 64,070 shares in the last quarter. 55.40% of the stock is owned by institutional investors.

Centerra Gold Stock Performance

CGAU traded up $0.34 during trading on Friday, reaching $8.17. 1,588,363 shares of the company's stock were exchanged, compared to its average volume of 1,601,483. The company's fifty day moving average price is $7.30 and its 200-day moving average price is $6.80. Centerra Gold has a fifty-two week low of $5.41 and a fifty-two week high of $8.21. The firm has a market capitalization of $1.66 billion, a PE ratio of 11.35, a P/E/G ratio of 0.62 and a beta of 0.81.

Centerra Gold (NYSE:CGAU - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.08. The firm had revenue of $288.30 million during the quarter, compared to analysts' expectations of $319.42 million. Centerra Gold had a return on equity of 9.12% and a net margin of 6.21%. Research analysts forecast that Centerra Gold will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, August 21st. Centerra Gold's payout ratio is currently 60.61%.

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.