Centerra Gold Inc. (TSE:CG) shares dropped 10.3% on Thursday after TD Securities lowered their price target on the stock from C$9.50 to C$8.00. TD Securities currently has a hold rating on the stock. Centerra Gold traded as low as C$6.36 and last traded at C$6.50. Approximately 1,421,786 shares traded hands during trading, an increase of 44% from the average daily volume of 984,859 shares. The stock had previously closed at C$7.25.
Several other research firms have also commented on CG. BMO Capital Markets upped their price objective on shares of Centerra Gold from C$10.00 to C$10.50 in a report on Monday, October 2nd. National Bank Financial lowered Centerra Gold from an “outperform spec market weight” rating to a “sector perform market weight” rating in a research report on Tuesday, October 17th. Canaccord Genuity lowered their price objective on Centerra Gold from C$10.00 to C$7.00 in a research report on Friday, September 29th. CIBC increased their target price on Centerra Gold from C$9.00 to C$11.00 in a research report on Thursday, December 14th. Finally, Scotiabank decreased their target price on Centerra Gold from C$11.00 to C$8.00 and set an “outperform” rating on the stock in a research report on Monday, September 11th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of C$9.14.
In other Centerra Gold news, insider Dennis Kwong bought 5,600 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The stock was purchased at an average price of C$7.50 per share, for a total transaction of C$42,000.00.
Centerra Gold Company Profile
Centerra Gold Inc is a Canada-based gold mining company focused on operating, developing, exploring and acquiring gold properties in Asia, North America and other markets across the world. The Company’s exploration segment includes the operations of Lagares Project in which the activities are related to its subsidiary, Centerra Gold (KB) Inc Its Kyrgyz segment includes Kumtor Gold Co (KGC) (Kyrgyz Republic), which operates Kumtor Mine.
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