BMO Capital Markets on Tuesday maintained its outperform rating on the shares of Centerra Gold (CG.TO, CGAU) while raising its price target to C$12.00 from C$11.00 after the company released a feasibility study for its U.S. molybdenum operations.

" The definitive feasibility study (DFS) for Centerra's molybdenum business unit (MBU) envisages restart of the Thompson Creek mine. The DFS highlights improved economics vs. the 2023 PFS, including a commercially optimized plan for the Langeloth metallurgical facility. While the MBU investment decision is unlikely to excite the gold-focussed investor, we believe the restart decision is the best outcome, given available alternatives, and offers a relatively low capital-intensive optionality to molybdenum prices and potential future complete/partial sale. We increase our target price to C$12.00/sh (from C$11.00/sh) and maintain our Outperform rating," analyst Raj Ray wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)