Centerra Gold (NYSE:CGAU) Stock Moved Up to Hold by Zacks Research

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

Several other research firms have also recently issued reports on CGAU. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Centerra Gold in a report on Friday, October 16th. Scotiabank restated an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, August 4th. Weiss Ratings downgraded Centerra Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday. Finally, Wall Street Zen lowered shares of Centerra Gold from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Centerra Gold Stock Performance

NYSE CGAU opened at $22.18 on Monday. The company has a current ratio of 2.07, a quick ratio of 1.25 and a debt-to-equity ratio of 0.03. The stock has a market cap of $4.30 billion, a PE ratio of 10.32, a P/E/G ratio of 2.10 and a beta of 0.84. The stock has a fifty day simple moving average of $21.88 and a 200-day simple moving average of $19.11. Centerra Gold has a twelve month low of $11.34 and a twelve month high of $24.52.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. The company had revenue of $500.30 million for the quarter, compared to analyst estimates of $440.83 million. Centerra Gold had a net margin of 23.67% and a return on equity of 15.10%. Equities analysts anticipate that Centerra Gold will post 1.57 earnings per share for the current year.

Centerra Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Thursday, November 19th will be paid a C$0.07 dividend. The ex-dividend date is Thursday, November 19th. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. Centerra Gold’s dividend payout ratio (DPR) is presently 9.30%.

Hedge Funds Weigh In On Centerra Gold

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC grew its holdings in shares of Centerra Gold by 8,621.4% in the 3rd quarter. Global Retirement Partners LLC now owns 1,221 shares of the company’s stock worth $27,000 after acquiring an additional 1,207 shares during the last quarter. Cibc World Market Inc. boosted its stake in Centerra Gold by 175.7% in the 3rd quarter. Cibc World Market Inc. now owns 173,731 shares of the company’s stock worth $3,789,000 after purchasing an additional 110,721 shares during the period. HighTower Advisors LLC acquired a new position in Centerra Gold in the 3rd quarter worth approximately $208,000. Russell Investments Group Ltd. grew its position in Centerra Gold by 12.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 117,362 shares of the company’s stock worth $2,565,000 after purchasing an additional 12,851 shares in the last quarter. Finally, Ritholtz Wealth Management grew its position in Centerra Gold by 0.6% during the 3rd quarter. Ritholtz Wealth Management now owns 123,690 shares of the company’s stock worth $2,694,000 after purchasing an additional 698 shares in the last quarter. Institutional investors own 55.40% of the company’s stock.

About Centerra Gold

Centerra Gold Inc. is a Canadian mining company that acquires, explores, develops, and operates mineral properties, with a focus on gold and copper. Its principal producing assets include the Mount Milligan copper-gold mine in British Columbia, Canada, and the Öksüt gold mine in Türkiye. The company also owns the Thompson Creek molybdenum mine in Idaho, which is on care and maintenance, and the Langeloth metallurgical facility in Pennsylvania. These assets give Centerra exposure to both precious and industrial metals.