Centerra Gold Inc. (NYSE:CGAU) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Centerra Gold Inc. (NYSE:CGAU) have been given an average rating of “Moderate Buy” by the nine brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $16.00.

A number of equities analysts recently commented on the company. Zacks Research raised Centerra Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. Scotiabank boosted their price target on Centerra Gold from $13.50 to $19.00 and gave the company an “outperform” rating in a report on Monday, January 26th. BMO Capital Markets upgraded Centerra Gold from a “hold” rating to an “outperform” rating in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Centerra Gold in a research note on Monday, December 29th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Centerra Gold in a research note on Wednesday, February 4th.

Institutional Trading of Centerra Gold

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in shares of Centerra Gold during the 4th quarter valued at $312,000. Mackenzie Financial Corp boosted its holdings in Centerra Gold by 677.1% in the 4th quarter. Mackenzie Financial Corp now owns 1,264,565 shares of the company’s stock worth $18,300,000 after buying an additional 1,101,830 shares during the period. XTX Topco Ltd increased its stake in Centerra Gold by 291.8% in the 4th quarter. XTX Topco Ltd now owns 77,301 shares of the company’s stock worth $1,111,000 after buying an additional 57,569 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in Centerra Gold in the 4th quarter worth $939,000. Finally, Numerai GP LLC raised its holdings in Centerra Gold by 133.2% during the fourth quarter. Numerai GP LLC now owns 23,496 shares of the company’s stock valued at $338,000 after acquiring an additional 13,421 shares during the period. 55.40% of the stock is owned by hedge funds and other institutional investors.

Centerra Gold Stock Performance

Shares of NYSE CGAU opened at $18.30 on Tuesday. Centerra Gold has a 12-month low of $5.41 and a 12-month high of $21.17. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 6.44, a price-to-earnings-growth ratio of 0.89 and a beta of 0.83. The company has a current ratio of 2.39, a quick ratio of 1.65 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average of $18.10 and a 200 day moving average of $14.01.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. The business had revenue of $401.60 million for the quarter, compared to the consensus estimate of $355.39 million. Centerra Gold had a net margin of 42.18% and a return on equity of 12.42%. On average, research analysts anticipate that Centerra Gold will post 0.59 earnings per share for the current year.

Centerra Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.28 annualized dividend and a yield of 1.5%. Centerra Gold’s payout ratio is currently 7.39%.

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.