Centerra Gold (NYSE:CGAU) Stock Rating Upgraded by Cormark

Centerra Gold (NYSE:CGAU) was upgraded by analysts at Cormark from a “hold” rating to a “moderate buy” rating in a report issued on Thursday,Zacks.com reports.

A number of other research firms have also issued reports on CGAU. Scotiabank reaffirmed an “outperform” rating on shares of Centerra Gold in a research note on Thursday, October 23rd. Wall Street Zen raised Centerra Gold from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Raymond James Financial reaffirmed a “market perform” rating on shares of Centerra Gold in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Centerra Gold in a research note on Wednesday, October 8th. Finally, CIBC reaffirmed an “outperform” rating on shares of Centerra Gold in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Centerra Gold has a consensus rating of “Moderate Buy” and an average target price of $14.17.

Centerra Gold Stock Performance

NYSE CGAU opened at $11.69 on Thursday. The company has a current ratio of 2.89, a quick ratio of 2.59 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $10.16 and its two-hundred day moving average is $8.16. Centerra Gold has a 12-month low of $5.41 and a 12-month high of $12.80. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 7.13, a PEG ratio of 0.62 and a beta of 0.88.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. The business had revenue of $395.20 million for the quarter, compared to analyst estimates of $314.74 million. Centerra Gold had a return on equity of 10.47% and a net margin of 26.35%. Research analysts expect that Centerra Gold will post 0.59 EPS for the current year.

Institutional Trading of Centerra Gold

Several large investors have recently modified their holdings of CGAU. Bank of New York Mellon Corp grew its stake in shares of Centerra Gold by 43.0% during the first quarter. Bank of New York Mellon Corp now owns 20,183 shares of the company’s stock valued at $128,000 after acquiring an additional 6,071 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Centerra Gold by 74.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 18,488 shares of the company’s stock worth $117,000 after purchasing an additional 7,895 shares during the last quarter. AMH Equity Ltd bought a new position in Centerra Gold in the first quarter worth about $902,000. Y Intercept Hong Kong Ltd bought a new position in Centerra Gold in the first quarter worth about $535,000. Finally, TD Asset Management Inc lifted its holdings in Centerra Gold by 52.1% in the first quarter. TD Asset Management Inc now owns 1,148,338 shares of the company’s stock worth $7,285,000 after acquiring an additional 393,122 shares during the last quarter. 55.40% of the stock is currently owned by institutional investors and hedge funds.

About Centerra Gold

Centerra Gold Inc, a gold mining company, engages in the acquisition, exploration, development, and operation of gold and copper properties in North America, Turkey, and internationally. The company explores for gold, copper, and molybdenum deposits. Its flagship projects are the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt gold mine located in Turkey.