Centerra Gold (NYSE:CGAU) Posts Quarterly Earnings Results, Hits Estimates

Centerra Gold (NYSE:CGAU) announced its quarterly earnings results on Tuesday. The company reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39, Zacks reports. Centerra Gold had a return on equity of 14.90% and a net margin of 40.32%.

Centerra Gold Price Performance

Shares of NYSE CGAU traded down $0.38 during mid-day trading on Tuesday, reaching $16.09. 2,505,493 shares of the company traded hands, compared to its average volume of 1,853,718. Centerra Gold has a fifty-two week low of $6.71 and a fifty-two week high of $21.17. 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 firm has a market cap of $3.18 billion, a PE ratio of 5.19, a price-to-earnings-growth ratio of 0.61 and a beta of 0.81. The stock has a fifty day simple moving average of $16.28 and a 200-day simple moving average of $17.48.

Centerra Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, May 21st. Centerra Gold’s dividend payout ratio is currently 6.45%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Scotiabank reiterated an “outperform” rating on shares of Centerra Gold in a research note on Tuesday, July 7th. Wall Street Zen lowered shares of Centerra Gold from a “buy” rating to a “hold” rating in a research report on Saturday. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Centerra Gold has an average rating of “Moderate Buy” and an average price target of $17.50.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CGAU. Cubist Systematic Strategies LLC acquired a new stake in Centerra Gold in the 1st quarter valued at about $192,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Centerra Gold during the 1st quarter valued at about $97,000. Goldman Sachs Group Inc. grew its stake in shares of Centerra Gold by 57.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock worth $84,739,000 after purchasing an additional 4,853,494 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Centerra Gold in the 1st quarter worth approximately $218,000. Finally, Geode Capital Management LLC raised its holdings in shares of Centerra Gold by 20.3% in the 2nd quarter. Geode Capital Management LLC now owns 767,536 shares of the company’s stock worth $5,534,000 after purchasing an additional 129,737 shares in the last quarter. Institutional investors own 55.40% of the company’s stock.

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.