Centerra Gold Inc. (NYSE:CGAU) Receives $16.67 Average PT from Analysts

Shares of Centerra Gold Inc. (NYSE:CGAU) have been assigned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $16.6667.

Several equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Centerra Gold in a research report on Friday, March 27th. Scotiabank boosted their price objective on Centerra Gold from $19.00 to $21.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Wall Street Zen upgraded Centerra Gold from a “hold” rating to a “buy” rating in a research note on Sunday, June 21st. Finally, Zacks Research lowered Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th.

Centerra Gold Stock Down 2.2%

CGAU stock opened at $15.52 on Thursday. The firm’s fifty day simple moving average is $17.03 and its 200-day simple moving average is $17.29. The company has a market capitalization of $3.07 billion, a P/E ratio of 5.00, a price-to-earnings-growth ratio of 0.75 and a beta of 0.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.60. Centerra Gold has a 12 month low of $6.71 and a 12 month high of $21.17.

Centerra Gold (NYSE:CGAU) last issued its earnings results on Wednesday, April 29th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03. Centerra Gold had a net margin of 40.32% and a return on equity of 14.90%. The firm had revenue of $484.70 million during the quarter, compared to analysts’ expectations of $373.47 million. As a group, equities research analysts forecast that Centerra Gold will post 1.79 earnings per share for the current year.

Centerra Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.8%. The ex-dividend date was Thursday, May 21st. Centerra Gold’s dividend payout ratio is currently 6.77%.

Hedge Funds Weigh In On Centerra Gold

Several large investors have recently made changes to their positions in the company. American Century Companies Inc. increased its holdings in Centerra Gold by 32.7% in the third quarter. American Century Companies Inc. now owns 5,379,277 shares of the company’s stock valued at $57,631,000 after buying an additional 1,324,448 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Centerra Gold by 12.2% during the 3rd quarter. TD Asset Management Inc now owns 1,489,163 shares of the company’s stock worth $15,958,000 after acquiring an additional 161,542 shares in the last quarter. Waratah Capital Advisors Ltd. grew its position in shares of Centerra Gold by 4.1% during the 3rd quarter. Waratah Capital Advisors Ltd. now owns 6,954,407 shares of the company’s stock valued at $74,621,000 after acquiring an additional 275,510 shares during the period. Quantbot Technologies LP grew its position in shares of Centerra Gold by 194.2% during the 3rd quarter. Quantbot Technologies LP now owns 345,831 shares of the company’s stock valued at $3,711,000 after acquiring an additional 228,264 shares during the period. Finally, Polar Asset Management Partners Inc. purchased a new position in shares of Centerra Gold in the 3rd quarter valued at about $2,036,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

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.