Centerra Gold Inc. (NYSE:CGAU) Receives Average Recommendation of “Moderate Buy” from Brokerages

Centerra Gold Inc. (NYSE:CGAU) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $16.6667.

A number of analysts recently commented on the stock. Wall Street Zen downgraded shares of Centerra Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 25th. BMO Capital Markets upgraded shares of Centerra Gold from a “hold” rating to an “outperform” rating in a report on Tuesday, January 20th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Centerra Gold in a report on Wednesday, February 4th. Zacks Research downgraded shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Finally, Scotiabank boosted their target price on shares of Centerra Gold from $19.00 to $21.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd.

Centerra Gold Stock Up 0.8%

NYSE CGAU opened at $18.88 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.60. The company’s 50 day simple moving average is $18.32 and its 200 day simple moving average is $16.19. Centerra Gold has a 12 month low of $6.35 and a 12 month high of $21.17. The company has a market capitalization of $3.77 billion, a P/E ratio of 6.09, a PEG ratio of 0.89 and a beta of 0.80.

Centerra Gold (NYSE:CGAU) last released its earnings results on Wednesday, April 29th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Centerra Gold had a net margin of 40.32% and a return on equity of 14.90%. The business had revenue of $484.70 million for the quarter, compared to the consensus estimate of $373.47 million. Equities research analysts expect that Centerra Gold will post 1.79 earnings per share for the current fiscal year.

Centerra Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Thursday, May 21st. Centerra Gold’s dividend payout ratio (DPR) is 6.77%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Burkett Financial Services LLC purchased a new position in shares of Centerra Gold in the third quarter worth approximately $30,000. TD Waterhouse Canada Inc. increased its position in shares of Centerra Gold by 1,106.5% in the third quarter. TD Waterhouse Canada Inc. now owns 2,980 shares of the company’s stock worth $33,000 after acquiring an additional 2,733 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of Centerra Gold by 63.0% in the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock worth $34,000 after acquiring an additional 1,839 shares in the last quarter. Global Retirement Partners LLC purchased a new position in shares of Centerra Gold in the fourth quarter worth approximately $36,000. Finally, Leonteq Securities AG purchased a new position in shares of Centerra Gold in the fourth quarter worth approximately $72,000. 55.40% of the stock is owned by hedge funds and other institutional investors.

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.