Centerra Gold (TSE:CG) Price Target Raised to C$38.00 at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce raised Centerra Gold’s price target to C$38.00 from C$37.00, implying 50.97% upside from the previous close. Desjardins also increased its target to C$33.00 but maintained a “hold” rating.
• Centerra Gold shares rose C$1.22 to C$25.17, with the stock carrying a “Moderate Buy” consensus rating and an average analyst target of C$28.17.
• The company reported quarterly earnings of C$0.55 per share on C$629 million in revenue, alongside a 41.28% net margin and 32.55% return on equity. Insider activity was mixed, with one director buying shares while insiders collectively sold 10,252 shares over the past 90 days.

Centerra Gold (TSE:CG - Get Free Report) had its price target hoisted by investment analysts at Canadian Imperial Bank of Commerce from C$37.00 to C$38.00 in a report issued on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's price target would indicate a potential upside of 50.97% from the stock's previous close.

Separately, Desjardins lifted their price objective on Centerra Gold from C$30.00 to C$33.00 and gave the company a "hold" rating in a report on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$28.17.

Centerra Gold Stock Performance

Shares of TSE:CG traded up C$1.22 on Thursday, reaching C$25.17. 413,685 shares of the company's stock were exchanged, compared to its average volume of 916,446. Centerra Gold has a twelve month low of C$9.25 and a twelve month high of C$28.97. The company has a fifty day moving average of C$22.90 and a 200-day moving average of C$24.21. The company has a market capitalization of C$5.00 billion, a price-to-earnings ratio of 8.12, a PEG ratio of 1.26 and a beta of 1.83. The company has a current ratio of 2.41, a quick ratio of 3.24 and a debt-to-equity ratio of 2.09.

Centerra Gold (TSE:CG - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported C$0.55 earnings per share for the quarter. The company had revenue of C$629.00 million during the quarter. Centerra Gold had a net margin of 41.28% and a return on equity of 32.55%.

Insider Activity at Centerra Gold

In other news, Director Paul Nicholas Wright purchased 5,000 shares of the business's stock in a transaction dated Tuesday, May 19th. The stock was bought at an average price of C$22.31 per share, with a total value of C$111,550.00. Following the acquisition, the director owned 130,000 shares in the company, valued at approximately C$2,900,300. The trade was a 4.00% increase in their position. Also, Director Eric Dell sold 7,827 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of C$22.97, for a total transaction of C$179,786.19. Insiders sold a total of 10,252 shares of company stock valued at $235,442 over the last 90 days. 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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