Centerra Gold Inc. (TSE:CG)’s share price traded down 9.4% during trading on Wednesday after Scotiabank lowered their price target on the stock from C$11.00 to C$10.00. Scotiabank currently has an outperform rating on the stock. Centerra Gold traded as low as C$7.94 and last traded at C$7.94. 621,515 shares traded hands during trading, an increase of 8% from the average session volume of 575,151 shares. The stock had previously closed at C$8.76.
A number of other equities research analysts also recently issued reports on the stock. Royal Bank Of Canada upgraded shares of Centerra Gold from an “underperform” rating to a “sector perform” rating and increased their price objective for the stock from C$8.00 to C$10.00 in a research note on Friday, September 15th. BMO Capital Markets reiterated a “market perform” rating and set a C$8.00 price objective on shares of Centerra Gold in a research note on Monday, July 10th. CIBC increased their price objective on shares of Centerra Gold from C$8.50 to C$9.50 in a research note on Thursday, September 7th. TD Securities reduced their price objective on shares of Centerra Gold from C$10.00 to C$8.50 and set a “hold” rating on the stock in a research note on Wednesday, September 13th. Finally, Canaccord Genuity reduced their price objective on shares of Centerra Gold from C$10.00 to C$7.00 in a research note on Friday, September 29th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of C$9.14.
In other news, insider Stephen A. Lang sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of C$9.10, for a total value of C$32,760.00. Also, insider John William Pearson sold 16,772 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of C$8.98, for a total transaction of C$150,612.56. Insiders have sold 90,536 shares of company stock worth $818,089 over the last quarter.
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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