Scotiabank Cuts Centerra Gold (NYSE:CGAU) Price Target to $9.00

Centerra Gold (NYSE:CGAU) had its target price cut by Scotiabank from $10.00 to $9.00 in a report published on Wednesday morning,Benzinga reports. They currently have a sector outperform rating on the stock. Scotiabank also issued estimates for Centerra Gold’s FY2025 earnings at $0.45 EPS.

Separately, Desjardins raised shares of Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Centerra Gold Trading Down 1.2 %

CGAU opened at $5.74 on Wednesday. The stock has a market cap of $1.21 billion, a PE ratio of 11.96 and a beta of 0.90. Centerra Gold has a 1-year low of $4.47 and a 1-year high of $7.82. The stock’s fifty day simple moving average is $5.92 and its 200 day simple moving average is $6.58.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $323.93 million during the quarter. Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. During the same period last year, the firm posted $0.20 EPS. Equities analysts forecast that Centerra Gold will post 0.77 earnings per share for the current year.

Centerra Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a dividend of $0.052 per share. This represents a $0.21 dividend on an annualized basis and a yield of 3.62%. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date was Wednesday, November 13th. Centerra Gold’s payout ratio is currently 45.83%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Centerra Gold by 36.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock worth $31,514,000 after acquiring an additional 1,175,000 shares during the period. Bank of Montreal Can lifted its holdings in shares of Centerra Gold by 59.0% during the 3rd quarter. Bank of Montreal Can now owns 3,869,035 shares of the company’s stock worth $28,690,000 after acquiring an additional 1,435,794 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Centerra Gold by 132.8% in the 2nd quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock worth $12,345,000 after purchasing an additional 1,047,142 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Centerra Gold by 111.3% in the second quarter. Mackenzie Financial Corp now owns 1,493,717 shares of the company’s stock worth $10,046,000 after buying an additional 786,688 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Centerra Gold by 94.6% in the 2nd quarter. Marshall Wace LLP now owns 1,037,839 shares of the company’s stock valued at $6,974,000 after purchasing an additional 504,636 shares in the last quarter. Hedge funds and other institutional investors own 55.40% of the company’s stock.

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.