Centerra Gold (NYSE:CGAU) Posts Quarterly Earnings Results, Meets Estimates

Centerra Gold (NYSE:CGAU) issued its quarterly earnings data on Tuesday. The company reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39, Zacks reports. Centerra Gold had a net margin of 40.32% and a return on equity of 14.90%.

Centerra Gold Stock Down 2.3%

CGAU stock traded down $0.38 during midday trading on Tuesday, hitting $16.09. The company’s stock had a trading volume of 1,818,393 shares, compared to its average volume of 1,852,301. The company has a quick ratio of 1.60, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. Centerra Gold has a 52-week low of $6.71 and a 52-week high of $21.17. The firm has a market capitalization of $3.18 billion, a P/E ratio of 5.19, a PEG ratio of 0.61 and a beta of 0.81. The firm has a 50-day simple moving average of $16.28 and a 200-day simple moving average of $17.48.

Centerra Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, May 21st. Centerra Gold’s dividend payout ratio (DPR) is currently 6.45%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CGAU shares. Scotiabank reissued an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, July 7th. Wall Street Zen lowered Centerra Gold from a “buy” rating to a “hold” rating in a research report on Saturday. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.50.

Institutional Trading of Centerra Gold

Several hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its stake in 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 in the last quarter. FIL Ltd acquired a new position in shares of Centerra Gold during the fourth quarter worth about $35,991,000. Millennium Management LLC increased its stake in shares of Centerra Gold by 828.0% during the third quarter. Millennium Management LLC now owns 2,372,671 shares of the company’s stock worth $25,435,000 after buying an additional 2,116,991 shares during the period. Verbena Value LP acquired a new stake in Centerra Gold in the fourth quarter valued at approximately $23,153,000. Finally, Hatch Cove Capital LLC purchased a new position in Centerra Gold in the fourth quarter worth approximately $18,001,000. 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.