The Globe and Mail reports in its Friday, June 2, edition that Raymond James analyst Brian MacArthur has upgraded Centerra Gold to "outperform" from "market perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. MacArthur continues to target the shares at $11. Analysts on average target the shares at $10.01. Mr. MacArthur's rating boost was in response to the Turkish Ministry of Environment, Urbanization and Climate Change's approval of its amended Environmental Impact Assessment (EIA) for the Oksut mine. Mr. MacArthur says in a note: "While we note 2Q results will still be impacted by the Oksut mine given the shutdown for most of the quarter, with this announcement, we believe Centerra Gold will be able to liberate cash from inventory over time and generate more cash from Oksut going forward. Given the recent correction in the share price and this announcement on Oksut, we are upgrading our recommendation. ... Centerra offers investors exposure to gold and copper, while generating solid CF. Centerra also has a strong balance sheet. In addition, the company owns three molybdenum assets, which offer optionality on molybdenum prices and may be sold to surface value."