Centerra Gold (NYSE:CGAU) Announces Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Centerra Gold (NYSE:CGAU) issued its quarterly earnings results on Thursday. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07, Zacks reports. Centerra Gold had a return on equity of 10.47% and a net margin of 26.35%.The business had revenue of $401.60 million during the quarter, compared to analyst estimates of $355.39 million.

Centerra Gold Stock Performance

Shares of NYSE:CGAU opened at $18.97 on Friday. The firm has a fifty day simple moving average of $16.51 and a two-hundred day simple moving average of $12.52. Centerra Gold has a 52 week low of $5.41 and a 52 week high of $20.40. The company has a quick ratio of 2.10, a current ratio of 2.89 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $3.79 billion, a P/E ratio of 11.57, a PEG ratio of 0.43 and a beta of 0.88.

Wall Street Analyst Weigh In

Several research firms have weighed in on CGAU. Wall Street Zen upgraded Centerra Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Zacks Research upgraded shares of Centerra Gold from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Cormark raised shares of Centerra Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, October 30th. Scotiabank lifted their price target on shares of Centerra Gold from $13.50 to $19.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Finally, BMO Capital Markets raised shares of Centerra Gold from a “hold” rating to an “outperform” rating in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.00.

Institutional Investors Weigh In On Centerra Gold

Several large investors have recently added to or reduced their stakes in CGAU. Osaic Holdings Inc. lifted its stake in shares of Centerra Gold by 63.0% in the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock valued at $34,000 after purchasing an additional 1,839 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Centerra Gold during the fourth quarter worth $36,000. Dynamic Technology Lab Private Ltd bought a new position in Centerra Gold during the first quarter valued at $97,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Centerra Gold in the fourth quarter valued at $100,000. Finally, Numerai GP LLC purchased a new position in shares of Centerra Gold during the 3rd quarter worth about $108,000. 55.40% of the stock is owned by 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.