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

Key Points

• Scotiabank has raised its target price for Centerra Gold (NYSE:CGAU) from $9.50 to $13.50, indicating a potential upside of 21.57% based on the company's previous close.
• The stock currently has an average rating of Moderate Buy from analysts, with a consensus target price of $14.17, reflecting positive sentiment despite some firms decreasing their ratings.
• Centerra Gold's shares recently traded at $11.11, showing significant activity with a market capitalization of $2.25 billion and various institutional investors increasing their stakes in the company.

Centerra Gold (NYSE:CGAU - Get Free Report) had its target price upped by equities research analysts at Scotiabank from $9.50 to $13.50 in a report issued on Thursday,Benzinga reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's price target suggests a potential upside of 21.57% from the company's previous close.

Several other research firms have also issued reports on CGAU. Royal Bank Of Canada lowered Centerra Gold from an "outperform" rating to a "sector perform" rating and increased their target price for the stock from $13.00 to $14.00 in a research note on Wednesday, September 10th. Wall Street Zen upgraded Centerra Gold from a "hold" rating to a "buy" rating in a research note on Saturday, October 18th. Weiss Ratings reissued a "hold (c)" rating on shares of Centerra Gold in a research report on Wednesday, October 8th. CIBC reissued an "outperform" rating on shares of Centerra Gold in a research report on Tuesday, July 15th. Finally, BMO Capital Markets restated a "market perform" rating on shares of Centerra Gold in a research note on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $14.17.

Centerra Gold Stock Performance

Shares of CGAU traded up $0.08 during mid-day trading on Thursday, hitting $11.11. 242,154 shares of the company's stock were exchanged, compared to its average volume of 1,193,678. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 33.65, a P/E/G ratio of 0.70 and a beta of 0.88. Centerra Gold has a fifty-two week low of $5.41 and a fifty-two week high of $12.80. The stock's 50-day moving average is $9.61 and its 200-day moving average is $7.89.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CGAU. CWM LLC lifted its stake in Centerra Gold by 6.9% in the third quarter. CWM LLC now owns 15,480 shares of the company's stock valued at $166,000 after buying an additional 1,000 shares during the last quarter. Osaic Holdings Inc. lifted its stake in Centerra Gold by 63.0% in the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company's stock valued at $34,000 after buying an additional 1,839 shares during the period. Russell Investments Group Ltd. increased its position in shares of Centerra Gold by 0.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 702,035 shares of the company's stock worth $5,045,000 after purchasing an additional 2,047 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Centerra Gold by 4.7% in the 1st quarter. Hsbc Holdings PLC now owns 55,268 shares of the company's stock valued at $351,000 after purchasing an additional 2,499 shares during the period. Finally, Northwest & Ethical Investments L.P. lifted its position in shares of Centerra Gold by 16.2% during the 2nd quarter. Northwest & Ethical Investments L.P. now owns 22,648 shares of the company's stock worth $163,000 after buying an additional 3,160 shares during the last quarter. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Centerra Gold Company Profile

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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