Centerra Gold (NYSE:CGAU) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wall Street Zen upgraded shares of Centerra Gold (NYSE:CGAU) from a buy rating to a strong-buy rating in a research note released on Saturday.

A number of other analysts have also recently commented on CGAU. Scotiabank reiterated an “outperform” rating on shares of Centerra Gold in a research report on Thursday, October 23rd. CIBC reiterated an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, July 15th. Royal Bank Of Canada cut Centerra Gold from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $13.00 to $14.00 in a research report on Wednesday, September 10th. Raymond James Financial reiterated a “market perform” rating on shares of Centerra Gold in a research report on Thursday. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Centerra Gold in a research report on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.17.

Centerra Gold Stock Down 1.0%

Shares of NYSE CGAU opened at $11.69 on Friday. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 7.13, a price-to-earnings-growth ratio of 0.62 and a beta of 0.88. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.89 and a quick ratio of 2.59. The business has a 50-day moving average of $10.16 and a two-hundred day moving average of $8.17. Centerra Gold has a 1 year low of $5.41 and a 1 year high of $12.80.

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

Centerra Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, November 13th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.4%. The ex-dividend date is Thursday, November 13th. Centerra Gold’s payout ratio is 12.20%.

Hedge Funds Weigh In On Centerra Gold

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC increased its position in Centerra Gold by 12.9% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 36,192 shares of the company’s stock valued at $388,000 after acquiring an additional 4,146 shares during the period. Intact Investment Management Inc. increased its position in Centerra Gold by 41.5% in the 3rd quarter. Intact Investment Management Inc. now owns 567,900 shares of the company’s stock valued at $6,085,000 after acquiring an additional 166,500 shares during the period. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. increased its position in Centerra Gold by 81.9% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 47,100 shares of the company’s stock valued at $505,000 after acquiring an additional 21,200 shares during the period. Olympiad Research LP increased its position in Centerra Gold by 83.3% in the 3rd quarter. Olympiad Research LP now owns 22,522 shares of the company’s stock valued at $242,000 after acquiring an additional 10,238 shares during the period. Finally, Ritholtz Wealth Management increased its position in Centerra Gold by 2.7% in the 3rd quarter. Ritholtz Wealth Management now owns 198,582 shares of the company’s stock valued at $2,131,000 after acquiring an additional 5,267 shares during the period. Institutional investors and hedge funds own 55.40% of the company’s stock.

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.