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Centerra Gold (TSE:CG) Cut to "Hold" at TD Securities

Posted on Tuesday, June 30th, 2020 by MarketBeat

Centerra Gold (TSE:CG) was downgraded by equities research analysts at TD Securities from a "buy" rating to a "hold" rating in a report released on Tuesday, BayStreet.CA reports. They currently have a C$17.00 target price on the stock, up from their previous target price of C$15.50. TD Securities' price target indicates a potential upside of 12.73% from the company's previous close.

A number of other equities analysts have also commented on the stock. Scotiabank raised shares of Centerra Gold from a "sector perform" rating to an "outperform" rating in a research report on Monday, May 4th. National Bank Financial boosted their price objective on Centerra Gold from C$14.50 to C$15.00 and gave the stock an "outperform" rating in a research report on Friday, May 22nd. Canaccord Genuity raised their target price on Centerra Gold from C$16.00 to C$17.50 in a report on Wednesday, May 20th. CIBC raised Centerra Gold from a "neutral" rating to an "outperform" rating and increased their price objective for the company from C$14.00 to C$17.00 in a research report on Monday, June 8th. Finally, Raymond James raised shares of Centerra Gold from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from C$14.50 to C$16.00 in a research report on Monday, May 4th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of "Buy" and an average target price of C$14.94.

CG traded up C$0.01 during midday trading on Tuesday, hitting C$15.08. 870,728 shares of the company's stock traded hands, compared to its average volume of 992,564. The company has a debt-to-equity ratio of 7.52, a current ratio of 4.32 and a quick ratio of 1.17. The company has a market cap of $4.43 billion and a PE ratio of -34.62. Centerra Gold has a one year low of C$5.52 and a one year high of C$15.34. The stock's fifty day simple moving average is C$13.59 and its 200-day simple moving average is C$10.76.

Centerra Gold (TSE:CG) last announced its quarterly earnings results on Friday, May 1st. The company reported C$0.22 earnings per share for the quarter, missing analysts' consensus estimates of C$0.26 by C($0.04). The business had revenue of C$502.07 million during the quarter. On average, research analysts expect that Centerra Gold will post 1.49 EPS for the current year.

In other Centerra Gold news, Senior Officer John William Pearson sold 22,210 shares of Centerra Gold stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of C$14.00, for a total transaction of C$310,940.00. Following the sale, the insider now directly owns 16,227 shares of the company's stock, valued at C$227,178. Also, Senior Officer Yousef Rehman sold 5,691 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of C$12.51, for a total value of C$71,194.41. Following the completion of the sale, the insider now owns 16,308 shares in the company, valued at C$204,013.08. Insiders sold 31,111 shares of company stock valued at $425,566 over the last 90 days.

About Centerra Gold

Centerra Gold Inc, a gold mining and exploration company, engages in the acquisition, exploration, development, and operation of gold and copper properties in North America, Asia, and internationally. Its flagship projects include the 100% owned Kumtor gold mine located in the Kyrgyz Republic; and the Mount Milligan gold-copper mine located in British Columbia, Canada.

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Analyst Recommendations for Centerra Gold (TSE:CG)

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