RBC Capital analyst Michael Siperco downgraded Centerra Gold (CGAU) to Sector Perform from Outperform with a price target of C$14, up from C$13. Centerra is entering a significant investment phase, advancing three projects – Thompson Creek, Goldfield, Kemess – while its Mount Milligan struggles to meet guidance and Oksut production declines, the analyst tells investors in a research note. Despite deep value, investors will likely prefer producers with nearer-term production and free cash flow growth, the firm added.
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