Centerra Gold (TSE:CG) Cut to Neutral at CIBC

CIBC downgraded shares of Centerra Gold (TSE:CG) from an outperform rating to a neutral rating in a research report report published on Wednesday morning, BayStreet.CA reports. CIBC currently has C$13.00 price target on the stock, up from their previous price target of C$11.00.

Several other equities analysts have also commented on CG. Cormark raised their target price on shares of Centerra Gold from C$13.00 to C$13.90 in a report on Wednesday, May 15th. Canaccord Genuity Group boosted their price target on Centerra Gold from C$10.75 to C$11.00 in a report on Tuesday, April 23rd. National Bank Financial reaffirmed an outperform overweight rating on shares of Centerra Gold in a research note on Monday, April 8th. Bank of America boosted their target price on Centerra Gold from C$7.55 to C$8.50 in a research note on Tuesday, April 9th. Finally, Raymond James raised their price target on shares of Centerra Gold from C$11.50 to C$12.50 in a research note on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of C$11.29.

Centerra Gold Price Performance

TSE:CG opened at C$9.59 on Wednesday. The firm’s 50-day simple moving average is C$9.37 and its 200 day simple moving average is C$8.23. Centerra Gold has a 52 week low of C$6.07 and a 52 week high of C$10.25. The firm has a market cap of C$2.06 billion, a price-to-earnings ratio of 26.64, a P/E/G ratio of 1.26 and a beta of 1.19. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.24 and a current ratio of 3.22.

Centerra Gold (TSE:CG) last issued its quarterly earnings results on Tuesday, May 14th. The company reported C$0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.21 by C($0.02). The company had revenue of C$412.37 million for the quarter. Centerra Gold had a return on equity of 3.40% and a net margin of 4.99%. As a group, sell-side analysts predict that Centerra Gold will post 0.887963 earnings per share for the current year.

Centerra Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Wednesday, June 12th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Wednesday, May 29th. Centerra Gold’s dividend payout ratio (DPR) is currently 77.78%.

Insider Transactions at Centerra Gold

In other Centerra Gold news, Director Craig Stephen Macdougall purchased 10,500 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were purchased at an average cost of C$9.56 per share, with a total value of C$100,330.65. Insiders purchased 11,012 shares of company stock worth $105,101 over the last ninety days. 0.23% of the stock is owned by insiders.

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.