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CIBC Issues Positive Forecast for Centerra Gold (NYSE:CGAU) Stock Price

Centerra Gold logo with Basic Materials background

Centerra Gold (NYSE:CGAU - Get Free Report) had its target price upped by analysts at CIBC from $12.00 to $15.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "outperformer" rating on the stock. CIBC's price objective would indicate a potential upside of 114.29% from the stock's current price.

Several other research analysts have also recently weighed in on the stock. National Bank Financial raised shares of Centerra Gold to a "strong-buy" rating in a report on Friday, March 21st. Cibc World Mkts raised shares of Centerra Gold from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. Scotiabank reissued an "outperform" rating on shares of Centerra Gold in a report on Monday, April 14th. Raymond James Financial reissued an "outperform" rating on shares of Centerra Gold in a report on Friday, April 4th. Finally, National Bankshares reissued an "outperform" rating on shares of Centerra Gold in a report on Tuesday, June 24th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $13.00.

Get Our Latest Stock Analysis on CGAU

Centerra Gold Stock Performance

NYSE:CGAU traded down $0.12 during mid-day trading on Tuesday, hitting $7.00. The stock had a trading volume of 696,077 shares, compared to its average volume of 918,434. Centerra Gold has a twelve month low of $5.41 and a twelve month high of $7.82. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 36.84, a PEG ratio of 0.36 and a beta of 0.81. The company's 50 day simple moving average is $7.11 and its 200 day simple moving average is $6.54.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. Centerra Gold had a net margin of 3.68% and a return on equity of 8.71%. The business had revenue of $299.50 million during the quarter, compared to the consensus estimate of $288.25 million. As a group, equities analysts forecast that Centerra Gold will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Millennium Management LLC increased its stake in Centerra Gold by 0.3% in the fourth quarter. Millennium Management LLC now owns 585,238 shares of the company's stock valued at $3,330,000 after acquiring an additional 1,663 shares during the last quarter. Hsbc Holdings PLC increased its stake in Centerra Gold by 4.7% in the first quarter. Hsbc Holdings PLC now owns 55,268 shares of the company's stock valued at $351,000 after acquiring an additional 2,499 shares during the last quarter. Toronto Dominion Bank increased its stake in Centerra Gold by 8.8% in the fourth quarter. Toronto Dominion Bank now owns 36,901 shares of the company's stock valued at $210,000 after acquiring an additional 2,980 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Centerra Gold by 2.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 181,755 shares of the company's stock valued at $1,036,000 after acquiring an additional 3,608 shares during the last quarter. Finally, Farther Finance Advisors LLC bought a new position in Centerra Gold in the second quarter valued at approximately $27,000. 55.40% of the stock is owned by institutional investors.

About Centerra Gold

(Get Free Report)

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.

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