Centerra Gold (NYSE:CGAU) Downgraded by Wall Street Zen to “Hold”

Centerra Gold (NYSE:CGAU) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

CGAU has been the topic of a number of other research reports. Scotiabank reaffirmed an “outperform” rating on shares of Centerra Gold in a research note on Tuesday, July 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Centerra Gold in a research note on Friday, March 27th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.50.

Centerra Gold Trading Down 0.5%

Shares of CGAU opened at $16.21 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.60. Centerra Gold has a 1-year low of $6.71 and a 1-year high of $21.17. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 5.23, a price-to-earnings-growth ratio of 0.62 and a beta of 0.81. The firm has a 50 day simple moving average of $16.29 and a 200-day simple moving average of $17.46.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Wednesday, April 29th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $484.70 million for 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 analysts forecast that Centerra Gold will post 1.61 EPS for the current fiscal year.

Institutional Trading of Centerra Gold

Several large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its holdings in Centerra Gold by 57.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock valued at $84,739,000 after purchasing an additional 4,853,494 shares in the last quarter. Donald Smith & CO. Inc. boosted its position in shares of Centerra Gold by 21.8% in the fourth quarter. Donald Smith & CO. Inc. now owns 14,158,116 shares of the company’s stock worth $203,452,000 after buying an additional 2,535,492 shares during the period. FIL Ltd purchased a new stake in shares of Centerra Gold in the fourth quarter worth about $35,991,000. Millennium Management LLC grew its stake in shares of Centerra Gold by 828.0% in the third quarter. Millennium Management LLC now owns 2,372,671 shares of the company’s stock valued at $25,435,000 after buying an additional 2,116,991 shares in the last quarter. Finally, Verbena Value LP acquired a new stake in shares of Centerra Gold in the fourth quarter valued at about $23,153,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

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.