Centerra Gold Inc. (NYSE:CGAU) Given Average Recommendation of “Moderate Buy” by Brokerages
by Scott Moore · The Cerbat GemShares of Centerra Gold Inc. (NYSE:CGAU – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $16.00.
Several brokerages have weighed in on CGAU. BMO Capital Markets upgraded Centerra Gold from a “hold” rating to an “outperform” rating in a report on Tuesday, January 20th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Wednesday, February 4th. Wall Street Zen raised Centerra Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 28th. Zacks Research cut Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Centerra Gold in a research report on Friday, March 27th.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in CGAU. Goldman Sachs Group Inc. boosted its position in shares of 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 acquiring 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% during the 4th quarter. Donald Smith & CO. Inc. now owns 14,158,116 shares of the company’s stock worth $203,452,000 after acquiring an additional 2,535,492 shares in the last quarter. FIL Ltd acquired a new position in shares of Centerra Gold during the 4th quarter worth about $35,991,000. Hillsdale Investment Management Inc. acquired a new position in shares of Centerra Gold during the 3rd quarter worth about $23,106,000. Finally, Millennium Management LLC increased its position 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 purchasing an additional 2,116,991 shares in the last quarter. 55.40% of the stock is owned by institutional investors and hedge funds.
Centerra Gold Price Performance
Shares of NYSE CGAU opened at $19.46 on Friday. The stock’s 50-day moving average is $18.30 and its two-hundred day moving average is $15.09. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.39 and a quick ratio of 1.65. Centerra Gold has a 1-year low of $6.30 and a 1-year high of $21.17. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 6.85, a price-to-earnings-growth ratio of 1.20 and a beta of 0.90.
Centerra Gold (NYSE:CGAU – Get Free Report) last issued 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. Centerra Gold had a return on equity of 12.42% and a net margin of 42.18%.The company had revenue of $401.60 million for the quarter, compared to the consensus estimate of $355.39 million. Analysts forecast that Centerra Gold will post 0.59 EPS for the current fiscal year.
Centerra Gold Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, March 12th. Centerra Gold’s dividend payout ratio is currently 7.39%.
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.