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

Centerra Gold Inc. (NYSE:CGAU) has received an average rating of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $17.50.

A number of research firms recently issued reports on CGAU. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Centerra Gold in a research report on Thursday, July 30th. Scotiabank reissued an “outperform” rating on shares of Centerra Gold in a research note on Tuesday, August 4th. Wall Street Zen cut shares of Centerra Gold from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Weiss Ratings downgraded shares of Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th.

Institutional Trading of Centerra Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its stake in shares of Centerra Gold by 2.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 24,860 shares of the company’s stock valued at $357,000 after buying an additional 575 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Centerra Gold by 2.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 36,939 shares of the company’s stock valued at $531,000 after buying an additional 747 shares during the last quarter. CWM LLC increased its position in shares of Centerra Gold by 5.3% during the fourth quarter. CWM LLC now owns 16,300 shares of the company’s stock worth $234,000 after acquiring an additional 820 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Centerra Gold by 3.5% during the first quarter. Pictet Asset Management Holding SA now owns 39,102 shares of the company’s stock worth $693,000 after acquiring an additional 1,340 shares in the last quarter. Finally, Baron Wealth Management LLC raised its holdings in shares of Centerra Gold by 6.2% in the 1st quarter. Baron Wealth Management LLC now owns 27,602 shares of the company’s stock worth $491,000 after acquiring an additional 1,621 shares during the last quarter. 55.40% of the stock is owned by institutional investors.

Centerra Gold Trading Up 4.2%

Shares of CGAU stock opened at $23.54 on Friday. Centerra Gold has a fifty-two week low of $7.19 and a fifty-two week high of $23.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.49 and a current ratio of 2.42. The stock has a 50 day simple moving average of $17.60 and a two-hundred day simple moving average of $17.86. The company has a market cap of $4.62 billion, a P/E ratio of 7.52, a PEG ratio of 0.84 and a beta of 0.80.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $442.71 million for the quarter, compared to analysts’ expectations of $394.27 million. Centerra Gold had a return on equity of 15.35% and a net margin of 36.92%. Research analysts forecast that Centerra Gold will post 1.63 earnings per share for the current year.

Centerra Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Centerra Gold’s dividend payout ratio is 6.39%.

Centerra Gold Company Profile

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.