Centerra Gold Inc. (NYSE:CGAU) Given Average Rating of “Moderate Buy” by Analysts

Shares of Centerra Gold Inc. (NYSE:CGAU) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $17.50.

Several equities analysts recently issued reports on the stock. Weiss Ratings cut shares of Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Scotiabank restated an “outperform” rating on shares of Centerra Gold in a report on Tuesday, August 4th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Centerra Gold in a research report on Thursday, July 30th. Finally, Wall Street Zen downgraded Centerra Gold from a “buy” rating to a “hold” rating in a report on Saturday, July 25th.

Hedge Funds Weigh In On Centerra Gold

Institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new position in Centerra Gold during the second quarter valued at $14,535,000. Bank of America Corp DE purchased a new stake in shares of Centerra Gold in the 2nd quarter worth about $28,039,000. Caisse de depot et placement du Quebec bought a new position in shares of Centerra Gold in the 2nd quarter worth about $3,152,000. Man Group plc bought a new position in shares of Centerra Gold in the 2nd quarter worth about $1,304,000. Finally, Polar Asset Management Partners Inc. purchased a new position in Centerra Gold during the 2nd quarter valued at about $1,475,000. Institutional investors own 55.40% of the company’s stock.

Centerra Gold Stock Performance

Shares of NYSE:CGAU opened at $21.26 on Friday. The company has a 50-day moving average price of $17.28 and a 200-day moving average price of $17.79. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 6.79, a price-to-earnings-growth ratio of 0.80 and a beta of 0.80. The company has a current ratio of 2.42, a quick ratio of 1.49 and a debt-to-equity ratio of 0.03. Centerra Gold has a 12 month low of $7.08 and a 12 month high of $22.30.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $442.71 million during the quarter, compared to analysts’ expectations of $394.27 million. Centerra Gold had a return on equity of 15.35% and a net margin of 36.92%. As a group, equities analysts anticipate that Centerra Gold will post 1.63 EPS for the current year.

Centerra Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. Centerra Gold’s payout ratio is currently 6.71%.

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.