Brokerages Set Centerra Gold Inc. (TSE:CG) Price Target at C$28.17

Centerra Gold Inc. (TSE:CG) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$28.17.

Several research analysts have recently weighed in on CG shares. TD boosted their price objective on shares of Centerra Gold from C$31.00 to C$32.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Desjardins raised their price objective on Centerra Gold from C$30.00 to C$33.00 and gave the company a “hold” rating in a research report on Thursday, April 23rd. Canadian Imperial Bank of Commerce lifted their target price on Centerra Gold from C$37.00 to C$38.00 in a research note on Thursday, July 30th. ATB Cormark Capital Markets boosted their target price on Centerra Gold from C$26.00 to C$27.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. Finally, Raymond James Financial increased their price target on Centerra Gold from C$28.00 to C$29.00 and gave the company a “market perform” rating in a research note on Thursday, July 30th.

Insider Buying and Selling

In related news, Director Paul Nicholas Wright purchased 5,000 shares of the stock in a transaction on Tuesday, May 19th. The shares were purchased at an average cost of C$22.31 per share, with a total value of C$111,550.00. Following the acquisition, the director directly owned 130,000 shares in the company, valued at C$2,900,300. The trade was a 4.00% increase in their ownership of the stock. Company insiders own 0.21% of the company’s stock.

Centerra Gold Stock Performance

CG opened at C$29.63 on Friday. The business’s 50-day simple moving average is C$23.30 and its 200 day simple moving average is C$24.40. Centerra Gold has a 52-week low of C$9.25 and a 52-week high of C$29.96. The company has a debt-to-equity ratio of 2.11, a quick ratio of 3.24 and a current ratio of 2.42. The firm has a market capitalization of C$5.80 billion, a PE ratio of 9.47, a PEG ratio of 1.26 and a beta of 1.83.

Centerra Gold (TSE:CG) last released its quarterly earnings data on Tuesday, July 28th. The company reported C$0.55 EPS for the quarter. Centerra Gold had a return on equity of 30.90% and a net margin of 37.72%.The company had revenue of C$629.00 million during the quarter.

Centerra Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, September 2nd will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.9%. Centerra Gold’s payout ratio is presently 6.45%.

About Centerra Gold

Centerra Gold Inc is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. The Company also owns the Kemess Project in British Columbia, Canada, the Goldfield Project in Nevada, United States, and owns and operates the Molybdenum Business Unit in the United States and Canada.