Zacks Research Downgrades Centerra Gold (NYSE:CGAU) to Strong Sell

Centerra Gold (NYSE:CGAU) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, Zacks reports.

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

Centerra Gold Price Performance

Shares of NYSE CGAU opened at $21.16 on Tuesday. The company has a 50 day simple moving average of $21.96 and a two-hundred day simple moving average of $18.82. Centerra Gold has a fifty-two week low of $10.46 and a fifty-two week high of $24.52. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of 6.76, a P/E/G ratio of 0.81 and a beta of 0.84. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.49 and a current ratio of 2.42.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $442.71 million for 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%. Analysts expect that Centerra Gold will post 1.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Centerra Gold

A number of hedge funds have recently added to or reduced their stakes in CGAU. Integrated Wealth Concepts LLC purchased a new stake in Centerra Gold during the 2nd quarter valued at $28,000. Pinnacle Holdings LLC purchased a new position in shares of Centerra Gold in the second quarter worth $45,000. C M Bidwell & Associates Ltd. bought a new position in shares of Centerra Gold during the second quarter valued at $83,000. State of Wyoming bought a new position in shares of Centerra Gold during the second quarter valued at $185,000. Finally, Kestra Advisory Services LLC boosted its position in shares of Centerra Gold by 35.0% during the first quarter. Kestra Advisory Services LLC now owns 10,797 shares of the company’s stock valued at $192,000 after buying an additional 2,797 shares during the last quarter. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Centerra Gold Company Profile

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.