Centerra Gold (NYSE:CGAU) Downgraded by Wall Street Zen to Buy

Centerra Gold (NYSE:CGAU) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

CGAU has been the topic of several other research reports. BMO Capital Markets raised Centerra Gold from a “hold” rating to an “outperform” rating in a report on Tuesday, January 20th. Zacks Research raised Centerra Gold from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Scotiabank increased their price objective on Centerra Gold from $13.50 to $19.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Centerra Gold in a research report on Monday, December 29th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Centerra Gold Stock Up 5.0%

Shares of Centerra Gold stock opened at $21.07 on Friday. The company has a quick ratio of 1.65, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. Centerra Gold has a 52-week low of $5.41 and a 52-week high of $21.11. The company has a market capitalization of $4.21 billion, a P/E ratio of 7.42, a P/E/G ratio of 0.45 and a beta of 0.88. The company has a 50 day moving average of $17.16 and a 200 day moving average of $13.03.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Centerra Gold had a net margin of 42.18% and a return on equity of 12.42%. The company had revenue of $401.60 million for the quarter, compared to the consensus estimate of $355.39 million. As a group, research analysts forecast that Centerra Gold will post 0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Centerra Gold

A number of institutional investors have recently modified their holdings of CGAU. Burkett Financial Services LLC purchased a new position in Centerra Gold during the third quarter worth about $30,000. TD Waterhouse Canada Inc. increased its position in Centerra Gold by 1,106.5% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 2,980 shares of the company’s stock worth $33,000 after purchasing an additional 2,733 shares during the period. Osaic Holdings Inc. increased its position in Centerra Gold by 63.0% during the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock worth $34,000 after purchasing an additional 1,839 shares during the period. Global Retirement Partners LLC purchased a new position in shares of Centerra Gold during the 4th quarter worth approximately $36,000. Finally, Leonteq Securities AG purchased a new position in shares of Centerra Gold during the 4th quarter worth approximately $72,000. 55.40% of the stock is owned by institutional investors and hedge funds.

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.