Centerra Gold Inc. (NYSE:CGAU) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Centerra Gold Inc. (NYSE:CGAU) have earned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $17.50.

CGAU has been the topic of several recent research reports. Scotiabank reiterated an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, July 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Centerra Gold in a report on Friday, March 27th. Finally, Wall Street Zen lowered shares of Centerra Gold from a “buy” rating to a “hold” rating in a research note on Saturday.

Centerra Gold Stock Down 0.5%

Shares of CGAU opened at $16.21 on Monday. The stock’s 50-day moving average price is $16.29 and its two-hundred day moving average price is $17.46. Centerra Gold has a 12 month low of $6.71 and a 12 month high of $21.17. The company has a market capitalization of $3.21 billion, a PE ratio of 5.23, a PEG ratio of 0.62 and a beta of 0.81. The company has a current ratio of 2.41, a quick ratio of 1.60 and a debt-to-equity ratio of 0.06.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. Centerra Gold had a return on equity of 14.90% and a net margin of 40.32%.The firm had revenue of $484.70 million for the quarter, compared to analyst estimates of $373.47 million. On average, analysts anticipate that Centerra Gold will post 1.61 EPS for the current year.

Centerra Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Thursday, May 21st. Centerra Gold’s dividend payout ratio (DPR) is currently 6.77%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its holdings in shares of Centerra Gold by 57.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock valued at $84,739,000 after acquiring an additional 4,853,494 shares in the last quarter. Donald Smith & CO. Inc. raised its position in Centerra Gold by 21.8% in the fourth quarter. Donald Smith & CO. Inc. now owns 14,158,116 shares of the company’s stock valued at $203,452,000 after purchasing an additional 2,535,492 shares during the last quarter. FIL Ltd acquired a new stake in Centerra Gold during the 4th quarter worth approximately $35,991,000. Millennium Management LLC increased its position in Centerra Gold by 828.0% in the 3rd quarter. Millennium Management LLC now owns 2,372,671 shares of the company’s stock valued at $25,435,000 after acquiring an additional 2,116,991 shares during the period. Finally, Verbena Value LP bought a new position in shares of Centerra Gold during the fourth quarter valued at $23,153,000. Institutional investors own 55.40% of the company’s stock.

About Centerra Gold

Centerra Gold Inc is a gold mining company incorporated in Canada and headquartered in Toronto. The company specializes in the exploration, development and operation of precious metals properties, with a focus on gold production. Centerra’s portfolio includes the Mount Milligan mine in British Columbia, Canada, and the Otjikoto mine in Namibia. Both operations produce gold and copper concentrates and employ modern mining methods and processing facilities to optimize recovery rates and minimize environmental impact.

In addition to its producing assets, Centerra is advancing the development of its Greenstone Gold Project in Ontario, Canada, which, upon completion, is expected to become one of Canada’s largest gold mines.