Centerra Gold (TSE:CG) Stock Gets Price Target Reduction from Desjardins

Centerra Gold (TSE:CG) had its price target decreased by Desjardins from C$34.00 to C$33.00 in a research report released on Thursday morning,BayStreet reports. Desjardins currently has a hold rating on the stock.

Several other research firms also recently commented on CG. Canadian Imperial Bank of Commerce upped their price objective on shares of Centerra Gold from C$37.00 to C$38.00 in a report on Thursday, July 30th. ATB Cormark Capital Markets increased their price objective on shares of Centerra Gold from C$26.00 to C$27.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Raymond James Financial raised their target price on shares of Centerra Gold from C$28.00 to C$29.00 and gave the stock a “market perform” rating in a research note on Thursday, July 30th. Finally, TD lifted their target price on shares of Centerra Gold from C$31.00 to C$32.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$31.43.

Centerra Gold Stock Down 1.3%

CG stock opened at C$28.32 on Thursday. The company has a current ratio of 2.42, a quick ratio of 3.24 and a debt-to-equity ratio of 2.11. The firm has a market capitalization of C$5.54 billion, a PE ratio of 9.05, a PEG ratio of 1.26 and a beta of 1.69. Centerra Gold has a 1-year low of C$14.65 and a 1-year high of C$33.94. The business’s 50 day simple moving average is C$31.35 and its 200 day simple moving average is C$26.79.

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

Centerra Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, September 2nd were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, August 19th. Centerra Gold’s payout ratio is presently 6.45%.

Insider Transactions at Centerra Gold

In other Centerra Gold news, insider Yousef Rehman sold 57,636 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of C$33.50, for a total transaction of C$1,930,806.00. Following the transaction, the insider owned 77,918 shares in the company, valued at C$2,610,253. This represents a 42.52% decrease in their position. Also, Director Wendy Wai Ting Kei bought 1,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were acquired at an average cost of C$29.76 per share, for a total transaction of C$29,760.00. Following the completion of the acquisition, the director directly owned 5,172 shares of the company’s stock, valued at approximately C$153,918.72. This trade represents a 23.97% increase in their position. Insiders own 0.21% of the company’s stock.

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.