Scotiabank Has Lowered Expectations for Centerra Gold (NYSE:CGAU) Stock Price

Key Points

• Scotiabank has reduced its price target for Centerra Gold (CGAU) from $12.00 to $9.50, indicating a potential upside of 3.42% from the previous close.
• Centerra Gold reported earnings of $0.25 per share, surpassing estimates, but its revenue for the quarter fell short of expectations at $288.30 million.
• Analysts have mixed ratings on the stock, with an average consensus rating of "Moderate Buy" and target price of $12.83, despite recent downgrades from some firms.

Centerra Gold (NYSE:CGAU - Get Free Report) had its price objective decreased by investment analysts at Scotiabank from $12.00 to $9.50 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "sector outperform" rating on the stock. Scotiabank's target price would suggest a potential upside of 3.42% from the company's previous close.

CGAU has been the subject of several other research reports. BMO Capital Markets reiterated a "market perform" rating on shares of Centerra Gold in a research note on Monday. Cibc World Mkts upgraded shares of Centerra Gold from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 27th. National Bankshares reaffirmed an "outperform" rating on shares of Centerra Gold in a report on Tuesday, June 24th. Wall Street Zen raised shares of Centerra Gold from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, CIBC reaffirmed an "outperform" rating on shares of Centerra Gold in a report on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $12.83.

Centerra Gold Trading Down 0.6%

CGAU stock opened at $9.19 on Tuesday. Centerra Gold has a 12 month low of $5.41 and a 12 month high of $9.43. The company has a 50-day moving average price of $7.63 and a 200 day moving average price of $7.00. The stock has a market cap of $1.86 billion, a PE ratio of 27.92, a P/E/G ratio of 0.70 and a beta of 0.81.

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

Institutional Trading of Centerra Gold

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new position in Centerra Gold during the 4th quarter worth $396,000. Deutsche Bank AG boosted its stake in shares of Centerra Gold by 91.5% during the 4th quarter. Deutsche Bank AG now owns 23,218 shares of the company's stock worth $132,000 after purchasing an additional 11,093 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Centerra Gold by 0.3% during the 4th quarter. Millennium Management LLC now owns 585,238 shares of the company's stock worth $3,330,000 after purchasing an additional 1,663 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of Centerra Gold during the 4th quarter worth about $79,000. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Centerra Gold by 3.1% during the 4th quarter. Nuveen Asset Management LLC now owns 1,890,136 shares of the company's stock worth $10,750,000 after acquiring an additional 57,609 shares during the period. Institutional investors and hedge funds own 55.40% of the company's stock.

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.

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