Centerra Gold (NYSE:CGAU) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Centerra Gold (NYSE:CGAU) from a hold rating to a strong-buy rating in a research report report published on Monday,Zacks.com reports.

Several other equities analysts also recently issued reports on the company. Royal Bank Of Canada downgraded Centerra Gold from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $13.00 to $14.00 in a research report on Wednesday, September 10th. Cormark upgraded shares of Centerra Gold from a “hold” rating to a “moderate buy” rating in a research report on Thursday, October 30th. BMO Capital Markets reissued a “market perform” rating on shares of Centerra Gold in a report on Monday, September 15th. Scotiabank reaffirmed an “outperform” rating on shares of Centerra Gold in a research note on Thursday, October 23rd. Finally, Raymond James Financial reissued a “market perform” rating on shares of Centerra Gold in a research note on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Centerra Gold has an average rating of “Moderate Buy” and a consensus price target of $14.17.

Centerra Gold Price Performance

Centerra Gold stock traded up $0.10 during trading hours on Monday, hitting $13.17. 241,894 shares of the stock were exchanged, compared to its average volume of 1,205,193. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.10 and a current ratio of 2.89. The stock has a market capitalization of $2.66 billion, a P/E ratio of 8.03, a P/E/G ratio of 0.50 and a beta of 0.88. Centerra Gold has a 12 month low of $5.41 and a 12 month high of $13.47. The business’s 50-day moving average is $11.65 and its two-hundred day moving average is $9.00.

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

Centerra Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Thursday, November 13th. Centerra Gold’s payout ratio is 12.20%.

Hedge Funds Weigh In On Centerra Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC bought a new stake in shares of Centerra Gold during the 2nd quarter valued at $27,000. Burkett Financial Services LLC acquired a new stake in shares of Centerra Gold during the third quarter worth $30,000. TD Waterhouse Canada Inc. increased its holdings in Centerra Gold by 1,106.5% in the third quarter. TD Waterhouse Canada Inc. now owns 2,980 shares of the company’s stock valued at $33,000 after purchasing an additional 2,733 shares during the last quarter. Osaic Holdings Inc. lifted its stake in Centerra Gold by 63.0% in the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock valued at $34,000 after buying an additional 1,839 shares during the period. Finally, Pinnacle Holdings LLC bought a new position in Centerra Gold during the first quarter worth about $39,000. 55.40% of the stock is owned by institutional investors.

Centerra Gold Company Profile

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.