Centerra Gold (TSE:CG) Sets New 12-Month High Following Analyst Upgrade

Centerra Gold Inc. (TSE:CG) shares hit a new 52-week high during trading on Tuesday after CIBC raised their price target on the stock from C$10.50 to C$11.50. The company traded as high as C$9.98 and last traded at C$9.93, with a volume of 368524 shares trading hands. The stock had previously closed at C$9.75.

Several other research analysts have also issued reports on CG. Royal Bank of Canada restated an “underperform” rating and issued a GBX 215 ($2.81) price target on shares of in a research report on Wednesday, June 26th. Canaccord Genuity set a $22.00 price target on Hibbett Sports and gave the stock a “hold” rating in a research report on Monday, March 25th. CSFB reduced their price target on Lundin Mining from C$9.75 to C$9.00 in a research report on Wednesday, July 10th. Raymond James restated a “buy” rating and issued a $10.00 price target on shares of The Carlyle Group in a research report on Monday, June 3rd. Finally, National Bank Financial lowered Detour Gold to a “hold” rating in a research report on Friday, June 28th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of C$10.00.

The company has a debt-to-equity ratio of 8.60, a current ratio of 3.12 and a quick ratio of 0.90. The company has a market cap of $2.70 billion and a price-to-earnings ratio of 20.80. The company has a 50-day simple moving average of C$8.89.

Centerra Gold (TSE:CG) last posted its quarterly earnings results on Wednesday, May 1st. The company reported C$0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.15 by C$0.08. The company had revenue of C$444.86 million during the quarter. On average, equities analysts predict that Centerra Gold Inc. will post 0.86 EPS for the current fiscal year.

About Centerra Gold (TSE:CG)

Centerra Gold Inc, a gold mining and exploration company, engages in the acquisition, exploration, development, and operation of gold and copper properties in North America, Asia, and internationally. Its flagship projects include the 100% owned Kumtor gold mine located in the Kyrgyz Republic; and the Mount Milligan gold-copper mine located in British Columbia, Canada.

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