Centerra Gold (NYSE:CGAU) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of Centerra Gold (NYSE:CGAU) from a buy rating to a hold rating in a research note published on Saturday morning.

A number of other research analysts have also recently issued reports on the stock. Scotiabank reiterated an “outperform” rating on shares of Centerra Gold in a report on Tuesday, July 7th. Weiss Ratings restated a “buy (b)” rating on shares of Centerra Gold in a report on Friday, March 27th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.50.

Centerra Gold Price Performance

Shares of CGAU opened at $16.21 on Friday. Centerra Gold has a 12-month low of $6.71 and a 12-month high of $21.17. The business’s fifty day moving average is $16.29 and its 200 day moving average is $17.46. The company has a quick ratio of 1.60, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. The stock has a market cap of $3.21 billion, a P/E ratio of 5.23, a P/E/G ratio of 0.61 and a beta of 0.81.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. The business had revenue of $484.70 million during the quarter, compared to the consensus estimate of $373.47 million. Centerra Gold had a net margin of 40.32% and a return on equity of 14.90%. Sell-side analysts anticipate that Centerra Gold will post 1.61 earnings per share for the current fiscal year.

Centerra Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, May 21st. Centerra Gold’s dividend payout ratio is presently 6.77%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CGAU. Janney Montgomery Scott LLC increased its holdings in Centerra Gold by 2.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 24,860 shares of the company’s stock worth $357,000 after acquiring an additional 575 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Centerra Gold by 2.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 36,939 shares of the company’s stock worth $531,000 after purchasing an additional 747 shares during the period. CWM LLC increased its stake in shares of Centerra Gold by 5.3% in the fourth quarter. CWM LLC now owns 16,300 shares of the company’s stock worth $234,000 after purchasing an additional 820 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in shares of Centerra Gold by 3.5% in the first quarter. Pictet Asset Management Holding SA now owns 39,102 shares of the company’s stock worth $693,000 after purchasing an additional 1,340 shares in the last quarter. Finally, Baron Wealth Management LLC raised its position in shares of Centerra Gold by 6.2% in the first quarter. Baron Wealth Management LLC now owns 27,602 shares of the company’s stock valued at $491,000 after purchasing an additional 1,621 shares during the period. 55.40% of the stock is owned by institutional investors.

Centerra Gold Company Profile

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.