The stock of Centerra Gold Inc. (TSE:CG) gapped up by $0.01 today and has $11.55 target or 60.00% above today’s $7.22 share price. The 5 months technical chart setup indicates low risk for the $2.10 billion company. The gap was reported on Nov, 9 by Barchart.com. If the $11.55 price target is reached, the company will be worth $1.26B 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 753,862 shares traded hands. Centerra Gold Inc. (TSE:CG) has risen 9.56% since April 5, 2016 and is uptrending. It has outperformed by 4.77% 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”, 1 “Sell”, while 5 “Hold”. This means 25% are positive. $10 is the highest target while $6 is the lowest. The $8.59 average target is 18.98% above today’s ($7.22) stock price. Centerra Gold Inc. has been the topic of 24 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating given on Wednesday, July 6 by IBC. The rating was maintained by RBC Capital Markets with “Sector Perform” on Wednesday, July 6. The rating was downgraded by TheStreet to “Sell” on Wednesday, August 19. The stock of Centerra Gold Inc. (TSE:CG) earned “Underperform” rating by RBC Capital Markets on Wednesday, December 23. On Tuesday, June 7 the stock rating was downgraded by Cormark Securities to “Market Perform”. Scotia Capital maintained Centerra Gold Inc. (TSE:CG) rating on Tuesday, November 8. Scotia Capital has “Sector Perform” rating and $8 price target. RBC Capital Markets maintained it with “Sector Perform” rating and $8 target price in Wednesday, January 13 report. RBC Capital Markets maintained the stock with “Sector Perform” rating in Tuesday, November 8 report. RBC Capital Markets upgraded Centerra Gold Inc. (TSE:CG) on Thursday, January 7 to “Sector Perform” rating. As per Tuesday, June 7, the company rating was maintained by RBC Capital Markets.
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”, Prnewswire.com published: “Thompson Creek Obtains Shareholder Approval for Arrangement with Centerra Gold …” on October 18, 2016. More interesting news about Centerra Gold Inc. (TSE:CG) was released by: Juniorminingnetwork.com and their article: “Centerra Gold Announces Q3 2016 Results and Revises Guidance Upwards” with publication date: November 07, 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 $2.10 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 has a 15.5 P/E ratio. The Company’s Kyrgyz segment includes Kumtor Gold Co. (KGC) (Kyrgyz Republic), which operates Kumtor Mine.
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