Centerra Gold Inc. (NYSE:CGAU) Stock Has Consensus Price Target of $21.00 According to Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Centerra Gold, with five buys, one hold, and one sell rating. The average 12-month price target is $21.00.
• Centerra Gold reported quarterly adjusted earnings of $0.39 per share, slightly above estimates, while revenue of $442.71 million exceeded the $394.27 million consensus forecast.
• Institutional investors own 55.4% of the company, with several funds increasing their positions during the latest reporting period.

Shares of Centerra Gold Inc. (NYSE:CGAU - Get Free Report) have been assigned an average rating of "Moderate Buy" from the seven ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $21.00.

Several research firms recently commented on CGAU. Zacks Research cut Centerra Gold from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 6th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Centerra Gold in a research report on Friday, October 16th. Scotiabank reissued an "outperform" rating on shares of Centerra Gold in a research note on Tuesday, August 4th. Weiss Ratings raised Centerra Gold from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday. Finally, Wall Street Zen lowered Centerra Gold from a "buy" rating to a "hold" rating in a report on Saturday, July 25th.

Centerra Gold Stock Up 3.3%

Centerra Gold stock opened at $21.00 on Wednesday. Centerra Gold has a 52-week low of $10.59 and a 52-week high of $24.52. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 6.71 and a beta of 0.84. The firm has a 50-day moving average price of $22.31 and a two-hundred day moving average price of $18.87.

Centerra Gold (NYSE:CGAU - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. The business had revenue of $442.71 million for the quarter, compared to the consensus estimate of $394.27 million. Research analysts expect that Centerra Gold will post 1.52 earnings per share for the current year.

Institutional Trading of Centerra Gold

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Counterpoint Mutual Funds LLC acquired a new stake in shares of Centerra Gold in the 3rd quarter worth approximately $1,227,000. Montrusco Bolton Investments Inc. increased its stake in shares of Centerra Gold by 82.6% during the third quarter. Montrusco Bolton Investments Inc. now owns 696,739 shares of the company's stock valued at $15,228,000 after acquiring an additional 315,182 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Centerra Gold by 18.1% during the third quarter. Farther Finance Advisors LLC now owns 7,177 shares of the company's stock valued at $156,000 after acquiring an additional 1,101 shares during the period. Engineers Gate Manager LP raised its holdings in Centerra Gold by 135.6% during the second quarter. Engineers Gate Manager LP now owns 49,984 shares of the company's stock worth $793,000 after purchasing an additional 28,767 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in Centerra Gold during the second quarter worth approximately $28,000. 55.40% of the stock is currently owned by institutional investors.

About Centerra Gold

Centerra Gold Inc is a Canadian-based mining company focused on the acquisition, exploration, development and operation of gold and copper properties. The company produces gold doré and copper-gold concentrate from its operating mines and manages related processing, infrastructure and exploration activities.

Centerra's principal assets include the Mount Milligan copper-gold mine in British Columbia, Canada, and the Öksüt gold mine in Türkiye. The company also owns the Kemess project in British Columbia, which is being advanced as a potential copper-gold development project.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.