Centerra Gold (NYSE:CGAU) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Centerra Gold (NYSE:CGAU) from a hold rating to a buy rating in a research report report published on Saturday.

A number of other brokerages also recently weighed in on CGAU. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Centerra Gold in a research note on Wednesday, October 8th. BMO Capital Markets reissued a “market perform” rating on shares of Centerra Gold in a research note on Monday, September 15th. CIBC reissued an “outperform” rating on shares of Centerra Gold in a research note on Tuesday, July 15th. Raymond James Financial downgraded shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Friday, October 10th. Finally, National Bankshares reissued an “outperform” rating on shares of Centerra Gold in a research note on Tuesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Centerra Gold currently has an average rating of “Moderate Buy” and an average target price of $12.83.

Centerra Gold Price Performance

Shares of CGAU opened at $11.83 on Friday. The firm’s 50 day simple moving average is $9.35 and its 200 day simple moving average is $7.79. The company has a market capitalization of $2.39 billion, a P/E ratio of 35.85, a P/E/G ratio of 1.57 and a beta of 0.88. Centerra Gold has a 1-year low of $5.41 and a 1-year high of $12.80.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Wednesday, August 6th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.08. The business had revenue of $288.30 million for the quarter, compared to the consensus estimate of $319.42 million. Centerra Gold had a net margin of 6.21% and a return on equity of 9.12%. On average, equities analysts anticipate that Centerra Gold will post 0.59 earnings per share for the current year.

Centerra Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, August 21st. Centerra Gold’s payout ratio is presently 60.61%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CGAU. U S Global Investors Inc. increased its stake in shares of Centerra Gold by 18.5% in the first quarter. U S Global Investors Inc. now owns 764,286 shares of the company’s stock worth $4,849,000 after buying an additional 119,565 shares during the period. Bank of New York Mellon Corp boosted its holdings in Centerra Gold by 43.0% in the first quarter. Bank of New York Mellon Corp now owns 20,183 shares of the company’s stock valued at $128,000 after acquiring an additional 6,071 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Centerra Gold by 74.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 18,488 shares of the company’s stock valued at $117,000 after acquiring an additional 7,895 shares in the last quarter. AMH Equity Ltd bought a new stake in Centerra Gold in the first quarter valued at $902,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Centerra Gold in the first quarter valued at $535,000. 55.40% of the stock is owned by hedge funds and other institutional investors.

Centerra Gold Company Profile

Centerra Gold Inc, a gold mining company, engages in the acquisition, exploration, development, and operation of gold and copper properties in North America, Turkey, and internationally. The company explores for gold, copper, and molybdenum deposits. Its flagship projects are the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt gold mine located in Turkey.