The stock of Centerra Gold Inc. (TSE:CG) gapped up by $0.14 today and has $9.57 target or 34.00% above today’s $7.14 share price. The 8 months technical chart setup indicates low risk for the $2.14B company. The gap was reported on Nov, 1 by Barchart.com. If the $9.57 price target is reached, the company will be worth $727.60M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 745,577 shares traded hands. Centerra Gold Inc. (TSE:CG) has risen 17.30% since March 28, 2016 and is uptrending. It has outperformed by 14.29% the S&P500.
Centerra Gold Inc. (TSE:CG) Ratings Coverage
Out of 8 analysts covering Centerra Gold Inc. (TSE:CG), 2 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 25% are positive. $10 is the highest target while $6 is the lowest. The $8.30 average target is 16.25% above today’s ($7.14) stock price. Centerra Gold Inc. has been the topic of 22 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The company was maintained on Wednesday, July 6 by RBC Capital Markets. RBC Capital Markets maintained the shares of CG in a report on Wednesday, January 13 with “Sector Perform” rating. RBC Capital Markets upgraded the shares of CG in a report on Thursday, January 7 to “Sector Perform” rating. The company was downgraded on Monday, August 24 by RBC Capital Markets. RBC Capital Markets maintained the shares of CG in a report on Tuesday, June 7 with “Sector Perform” rating. The stock of Centerra Gold Inc. (TSE:CG) has “Market Perform” rating given on Tuesday, June 7 by Cormark Securities. The stock has “Underperform” rating given by RBC Capital Markets on Wednesday, December 23. The company was downgraded on Wednesday, August 19 by TheStreet. The stock has “Sector Perform” rating given by IBC on Wednesday, July 6.
More important recent Centerra Gold Inc. (TSE:CG) news were published by: Bloomberg.com which released: “Centerra to Buy Debt-Choked Thompson Creek in $1.1 Billion Deal” on July 05, 2016, also Seekingalpha.com published article titled: “A New Gold Major Is Born”, Businesswire.com published: “Royal Gold Congratulates Centerra Gold on its Acquisition of Thompson Creek” on October 20, 2016. More interesting news about Centerra Gold Inc. (TSE:CG) was released by: Prnewswire.com and their article: “Thompson Creek Obtains Shareholder Approval for Arrangement with Centerra Gold …” with publication date: October 18, 2016.
Centerra Gold Inc. is a Canada-based gold mining firm focused on operating, developing, exploring and acquiring gold properties in Asia, North America and other markets across the world. The company has a market cap of $2.14 billion. The Company’s exploration segment includes the activities of Lagares Project in which the activities are related to its subsidiary, Centerra Gold Inc. It currently has negative earnings. The Company’s Kyrgyz segment includes Kumtor Gold Co. (KGC) (Kyrgyz Republic), which operates Kumtor Mine.
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