Centerra Gold (NYSE:CGAU) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Centerra Gold (NYSE:CGAU) announced its earnings results on Thursday. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.10, Zacks reports. Centerra Gold had a return on equity of 10.47% and a net margin of 26.35%.

Centerra Gold Stock Up 1.2%

CGAU traded up $0.23 on Thursday, reaching $18.97. 1,445,901 shares of the company traded hands, compared to its average volume of 2,156,036. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 0.42 and a beta of 0.88. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.89 and a quick ratio of 2.10. The stock’s 50 day moving average price is $16.42 and its 200-day moving average price is $12.48. Centerra Gold has a 52-week low of $5.41 and a 52-week high of $20.40.

Wall Street Analysts Forecast Growth

CGAU has been the topic of several recent research reports. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Centerra Gold in a research report on Wednesday, February 4th. Cormark upgraded Centerra Gold from a “hold” rating to a “moderate buy” rating in a research report on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Centerra Gold in a report on Monday, December 29th. Wall Street Zen raised shares of Centerra Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Finally, Scotiabank raised their price objective on shares of Centerra Gold from $13.50 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Institutional Trading of Centerra Gold

Hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC purchased a new position in Centerra Gold in the fourth quarter valued at about $36,000. Osaic Holdings Inc. lifted its holdings in shares of Centerra Gold by 63.0% during the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock valued at $34,000 after buying an additional 1,839 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new stake in shares of Centerra Gold in the 4th quarter valued at approximately $100,000. Kestra Advisory Services LLC acquired a new position in Centerra Gold in the fourth quarter worth approximately $115,000. Finally, Numerai GP LLC acquired a new stake in Centerra Gold in the third quarter valued at approximately $108,000. 55.40% of the stock is currently 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.