Centerra Gold (NYSE:CGAU) Given New $9.00 Price Target at Scotiabank

Centerra Gold (NYSE:CGAU) had its price objective cut by Scotiabank from $10.00 to $9.00 in a report released on Wednesday,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 upgraded 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Centerra Gold Stock Down 1.2 %

Centerra Gold stock opened at $5.74 on Wednesday. The business has a 50 day moving average price of $5.92 and a two-hundred day moving average price of $6.58. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 11.96 and a beta of 0.90. Centerra Gold has a 12 month low of $4.47 and a 12 month high of $7.82.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. The company had revenue of $323.93 million for the quarter. During the same period in the prior year, the company earned $0.20 EPS. On average, analysts expect that Centerra Gold will post 0.77 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

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

Hedge Funds Weigh In On Centerra Gold

Several institutional investors and hedge funds have recently made changes to their positions in CGAU. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Centerra Gold by 36.5% during 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 in the last quarter. Bank of Montreal Can raised its position in shares of Centerra Gold by 59.0% during the third quarter. Bank of Montreal Can now owns 3,869,035 shares of the company’s stock worth $28,690,000 after purchasing an additional 1,435,794 shares during the period. American Century Companies Inc. lifted its holdings in shares of Centerra Gold by 132.8% during the 2nd quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock valued at $12,345,000 after purchasing an additional 1,047,142 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Centerra Gold by 111.3% in the 2nd quarter. Mackenzie Financial Corp now owns 1,493,717 shares of the company’s stock valued at $10,046,000 after purchasing an additional 786,688 shares during the period. Finally, Marshall Wace LLP increased its stake in Centerra Gold by 94.6% during the 2nd quarter. Marshall Wace LLP now owns 1,037,839 shares of the company’s stock worth $6,974,000 after purchasing an additional 504,636 shares in the last quarter. 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.