Centerra Gold (NYSE:CGAU) Price Target Raised to $11.00 at Scotiabank

Centerra Gold (NYSE:CGAU) had its price objective increased by research analysts at Scotiabank from $9.00 to $11.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 62.24% from the company’s previous close.

Several other research firms also recently commented on CGAU. CIBC reaffirmed a “neutral” rating on shares of Centerra Gold in a report on Thursday, March 20th. Raymond James restated an “outperform” rating on shares of Centerra Gold in a research note on Friday, April 4th. National Bankshares reiterated an “outperform” rating on shares of Centerra Gold in a research report on Wednesday, April 2nd. National Bank Financial upgraded shares of Centerra Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Cormark lowered shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Centerra Gold Stock Performance

NYSE:CGAU traded up $0.17 during trading on Monday, reaching $6.78. The company’s stock had a trading volume of 350,125 shares, compared to its average volume of 835,084. Centerra Gold has a 12 month low of $5.41 and a 12 month high of $7.82. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 18.83 and a beta of 0.81. The firm has a 50 day moving average of $6.14 and a 200-day moving average of $6.25.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. The company had revenue of $302.40 million for the quarter, compared to analysts’ expectations of $316.92 million. Equities research analysts forecast that Centerra Gold will post 0.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Centerra Gold

Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its position in Centerra Gold by 114.5% in the 3rd quarter. FMR LLC now owns 37,100 shares of the company’s stock worth $266,000 after buying an additional 19,800 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Centerra Gold in the 3rd quarter valued at $206,000. HighTower Advisors LLC bought a new position in shares of Centerra Gold during the 3rd quarter valued at $127,000. Jane Street Group LLC raised its position in Centerra Gold by 145.6% in the 3rd quarter. Jane Street Group LLC now owns 419,992 shares of the company’s stock worth $3,015,000 after purchasing an additional 249,004 shares during the period. Finally, Barclays PLC lifted its stake in Centerra Gold by 284.5% in the third quarter. Barclays PLC now owns 74,930 shares of the company’s stock worth $537,000 after purchasing an additional 55,444 shares during the last quarter. Institutional investors 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.