Centerra Gold (NYSE:CGAU) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Centerra Gold (NYSE:CGAU) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday,Zacks reports.

A number of other equities research analysts also recently commented on CGAU. Wall Street Zen downgraded Centerra Gold from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Weiss Ratings raised Centerra Gold from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 31st. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Centerra Gold in a research report on Thursday, July 30th. Finally, Scotiabank reiterated an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, August 4th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Centerra Gold Stock Down 2.5%

Centerra Gold stock opened at $21.16 on Tuesday. The business has a fifty day moving average price of $21.96 and a 200-day moving average price of $18.82. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.42 and a quick ratio of 1.49. Centerra Gold has a 1-year low of $10.46 and a 1-year high of $24.52. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 0.81 and a beta of 0.84.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results 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 the consensus estimate of $394.27 million. Centerra Gold had a return on equity of 15.35% and a net margin of 36.92%. Equities research analysts forecast that Centerra Gold will post 1.63 EPS for the current fiscal year.

Centerra Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were given a dividend of C$0.07 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. Centerra Gold’s payout ratio is presently 6.39%.

Institutional Trading of Centerra Gold

Hedge funds have recently bought and sold shares of the business. Donald Smith & CO. Inc. acquired a new position in shares of Centerra Gold during the 2nd quarter worth approximately $245,004,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Centerra Gold by 0.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 8,314,250 shares of the company’s stock valued at $147,899,000 after buying an additional 39,315 shares in the last quarter. Heartland Advisors Inc. grew its position in Centerra Gold by 0.7% in the 1st quarter. Heartland Advisors Inc. now owns 2,216,216 shares of the company’s stock valued at $39,426,000 after acquiring an additional 14,766 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Centerra Gold during the second quarter worth about $37,142,000. Finally, Neumeier Poma Investment Counsel LLC acquired a new stake in shares of Centerra Gold during the second quarter worth about $32,524,070. Institutional investors and hedge funds own 55.40% of the company’s stock.

About Centerra Gold

Centerra Gold Inc is a Canadian-based, intermediate gold and copper producer headquartered in Toronto, Ontario. The company explores, develops and operates precious- and base-metal properties, with a focus on responsible mining and the production of gold and copper concentrates and doré.

Centerra’s principal operating assets include the Mount Milligan copper-gold mine in British Columbia, Canada, and the Öksüt gold mine in Türkiye. Mount Milligan produces copper and gold concentrate, while Öksüt is an open-pit, heap-leach operation that produces gold doré.