Centerra Gold (NYSE:CGAU) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Centerra Gold (NYSE:CGAU) from a hold rating to a strong sell rating in a report released on Tuesday morning,Zacks reports.

CGAU has been the subject of a number of other research reports. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Centerra Gold in a research note on Thursday, July 30th. Weiss Ratings raised shares of Centerra Gold from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 31st. Wall Street Zen lowered Centerra Gold from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Scotiabank reissued an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, August 4th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Centerra Gold Price Performance

Shares of CGAU opened at $21.84 on Tuesday. The business’s 50-day moving average is $22.03 and its 200-day moving average is $18.86. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.42 and a quick ratio of 1.49. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of 6.98, a P/E/G ratio of 0.81 and a beta of 0.84. Centerra Gold has a fifty-two week low of $10.46 and a fifty-two week high of $24.52.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. Centerra Gold had a net margin of 36.92% and a return on equity of 15.35%. The business had revenue of $442.71 million during the quarter, compared to analysts’ expectations of $394.27 million. Equities research analysts expect that Centerra Gold will post 1.6 EPS for the current fiscal year.

Centerra Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were given a dividend of C$0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, August 19th. Centerra Gold’s dividend payout ratio (DPR) is presently 6.39%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CGAU. Precision Wealth Strategies LLC acquired a new position in Centerra Gold during the first quarter worth $1,988,000. Heartland Advisors Inc. bought a new position in Centerra Gold during the second quarter valued at about $34,082,000. Walleye Capital LLC acquired a new stake in shares of Centerra Gold in the first quarter worth about $1,226,000. Donald Smith & CO. Inc. acquired a new stake in shares of Centerra Gold in the second quarter worth about $245,004,000. Finally, Quantbot Technologies LP bought a new stake in shares of Centerra Gold during the 2nd quarter worth about $1,035,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

Centerra Gold Company Profile

Centerra Gold Inc is a Canadian-based, intermediate gold and copper producer headquartered in Toronto, Ontario. The company explores, develops and operates precious- and base-metal properties, with a focus on responsible mining and the production of gold and copper concentrates and doré.

Centerra’s principal operating assets include the Mount Milligan copper-gold mine in British Columbia, Canada, and the Öksüt gold mine in Türkiye. Mount Milligan produces copper and gold concentrate, while Öksüt is an open-pit, heap-leach operation that produces gold doré.