5 Most Promising Gold Stocks According to Analysts

4. Centerra Gold Inc. (NYSE:CGAU)

Average Analyst Price Target Upside: 35.82%

Average Analyst Price Target: $8.19

Centerra Gold Inc. (NYSE:CGAU) is a Canadian gold mining company that acquires, develops, explores, and manages gold and copper properties.

Over the last three months, Centerra Gold Inc. (NYSE:CGAU) was covered by 6 Wall Street analysts, and 5 kept a Buy rating on the stock. As of the December 15 market close, the average price target of $8.19 represented an upside of 35.82%.

On November 29, Desjardins started coverage of Centerra Gold Inc. (NYSE:CGAU)’s stock with a Buy rating and a C$12 price target. The firm said that the company had a strong balance sheet and a strong capital return program.

Centerra Gold Inc. (NYSE:CGAU) was mentioned in Heartland Advisors’ first quarter 2023 investor letter. Here is what it said:

“In a world of depreciating currencies, we are fans of hard assets, in particular gold miners. In our view, miners will be beneficiaries of the Federal Reserve eventually pausing, reverting to an easy money policy to stem a banking liquidity crisis. Money printing, increased deficits, and a weaker dollar are likely to increase demand for the historical storehouse of value, gold, and for those that produce it.

We own two miners, one of which is Centerra Gold Inc. (NYSE:CGAU). Centerra headquartered in Toronto, operates the Mount Milligan mine producing gold and copper and is awaiting the restart of its Oksut, Turkish mine. Due to a startup delay, the stock has been a laggard, currently priced below book value and net asset value. However, Centerra is debt free with substantial cash and ore reserves. Plus, the stock offers a 3.25% dividend yield. Under new leadership and with the restart of Oksut, we believe the earning power, at current metal prices, could approach $0.80 per share.”