Centerra Gold (NYSE:CGAU) Rating Increased to Strong-Buy at Zacks Research

Centerra Gold (NYSE:CGAU) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Cormark raised shares of Centerra Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, October 30th. BMO Capital Markets raised shares of Centerra Gold from a “hold” rating to an “outperform” rating in a research note on Tuesday, January 20th. Wall Street Zen upgraded shares of Centerra Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Centerra Gold in a report on Monday, December 29th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Centerra Gold in a report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $16.00.

Centerra Gold Stock Performance

NYSE CGAU opened at $16.45 on Wednesday. The company has a quick ratio of 2.10, a current ratio of 2.89 and a debt-to-equity ratio of 0.02. Centerra Gold has a twelve month low of $5.41 and a twelve month high of $20.40. The business has a 50-day moving average price of $15.46 and a 200-day moving average price of $11.73. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 10.03, a price-to-earnings-growth ratio of 0.38 and a beta of 0.88.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its stake in Centerra Gold by 57.2% during the first quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock worth $84,739,000 after acquiring an additional 4,853,494 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of Centerra Gold in the 3rd quarter worth approximately $23,106,000. Millennium Management LLC increased its position in shares of Centerra Gold by 828.0% during the 3rd quarter. Millennium Management LLC now owns 2,372,671 shares of the company’s stock valued at $25,435,000 after purchasing an additional 2,116,991 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Centerra Gold by 26.2% during the 2nd quarter. Acadian Asset Management LLC now owns 8,494,055 shares of the company’s stock valued at $61,027,000 after purchasing an additional 1,761,904 shares during the last quarter. Finally, Waratah Capital Advisors Ltd. raised its holdings in Centerra Gold by 29.9% during the 2nd quarter. Waratah Capital Advisors Ltd. now owns 6,678,897 shares of the company’s stock valued at $48,155,000 after buying an additional 1,537,692 shares during the period. 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.