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TELEMARKER on Mar 25, 2024 11:28am
stockwatch.com
Globe says Centerra seen having a healthy balance sheet
2024-03-22 08:05 ET - In the News
The Globe and Mail reports in its Friday edition that Canaccord Genuity analyst Jeremy Hoy has lowered his share target for Centerra Gold to $10.75 from $11.75, but still maintains a "buy" recommendation due to the company's potential for growth. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $10.05. Mr. Hoy says in a note: "We look forward to the outcomes of the MBU strategic process and ongoing exploration/evaluation at Goldfield. In the meantime, we highlight Centerra Gold's cash flow generation from its existing operations and healthy balance sheet, as well as the new management team's strong technical credentials, which combined, provide a solid foundation upon which to build the portfolio through internal development projects and/or M&A, in our view. We also highlight the company's capital returns program, attractive valuation and potential upside at Mt. Milligan from the ongoing optimization review and potential mine life extensions made possible by the recent stream renegotiation." The Globe reported on Jan. 10 that Desjardins Securities analyst John Sclodnick had reaffirmed his "buy" recommendation for Centerra, which then could be had for $7.35.
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