Centerra Gold price target raised to C$17.50 from C$14.75 at BofA

BofA raised the firm’s price target on Centerra Gold (CGAU) to C$17.50 from C$14.75 and keeps an Underperform rating on the shares after the company announced the results of a Preliminary Economic Assessment on a restart and expansion of its idled Kemess gold/copper mine in British Columbia. Adding the project to its model increases the firm’s net asset value estimate by 19% and its price objective by an associated 19%, but the firm reiterates an Underperform rating that reflects a view of better relative value in other precious metal stocks under its coverage.