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

Shares of Centerra Gold Inc. (NYSE:CGAU) have earned an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $16.6667.

A number of analysts recently commented on the company. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Centerra Gold in a research report on Wednesday, February 4th. Scotiabank lifted their price target on Centerra Gold from $19.00 to $21.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Centerra Gold in a report on Friday, March 27th. Zacks Research cut Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Finally, Wall Street Zen cut Centerra Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 25th.

Institutional Trading of Centerra Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CGAU. Cubist Systematic Strategies LLC purchased a new stake in Centerra Gold in the 1st quarter valued at about $192,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Centerra Gold during the 1st quarter worth about $97,000. Goldman Sachs Group Inc. grew 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 worth $84,739,000 after purchasing an additional 4,853,494 shares during the period. Empowered Funds LLC purchased a new stake in shares of Centerra Gold during the 1st quarter worth about $218,000. Finally, Geode Capital Management LLC grew its holdings in shares of Centerra Gold by 20.3% during the 2nd quarter. Geode Capital Management LLC now owns 767,536 shares of the company’s stock worth $5,534,000 after purchasing an additional 129,737 shares during the period. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Centerra Gold Trading Up 3.5%

Centerra Gold stock opened at $17.64 on Friday. The stock has a market cap of $3.50 billion, a PE ratio of 5.69, a P/E/G ratio of 0.84 and a beta of 0.80. The stock has a 50-day moving average price of $17.89 and a 200 day moving average price of $16.68. Centerra Gold has a 52 week low of $6.71 and a 52 week high of $21.17. 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 posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $484.70 million during the quarter, compared to analysts’ expectations of $373.47 million. Centerra Gold had a return on equity of 14.90% and a net margin of 40.32%. Equities research analysts predict that Centerra Gold will post 1.79 earnings per share for the current fiscal year.

Centerra Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be issued a $0.07 dividend. The ex-dividend date is Thursday, May 21st. This represents a $0.28 annualized dividend and a yield of 1.6%. Centerra Gold’s payout ratio is 6.77%.

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.