Centerra Gold (NYSE:CGAU) Stock Bumped Down to Strong Sell by Zacks Research

Key Points

• Zacks Research downgraded Centerra Gold from “hold” to “strong sell,” despite the broader analyst consensus remaining “Moderate Buy” with a $21.00 target price.
• Centerra Gold opened at $21.16, with a $4.13 billion market capitalization and a 12-month trading range of $10.46 to $24.52.
• The company slightly exceeded quarterly expectations, reporting $0.39 in earnings per share versus the $0.38 consensus and revenue of $442.71 million versus estimates of $394.27 million.

Centerra Gold (NYSE:CGAU - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Tuesday, Zacks reports.

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

Centerra Gold Price Performance

CGAU opened at $21.16 on Tuesday. The stock has a 50-day moving average price of $21.96 and a 200-day moving average price of $18.82. Centerra Gold has a 12-month low of $10.46 and a 12-month high of $24.52. The company has a current ratio of 2.42, a quick ratio of 1.49 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $4.13 billion, a P/E ratio of 6.76, a PEG ratio of 0.81 and a beta of 0.84.

Centerra Gold (NYSE:CGAU - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. The company had revenue of $442.71 million for the quarter, compared to analysts' expectations of $394.27 million. Centerra Gold had a return on equity of 15.35% and a net margin of 36.92%. Equities analysts predict that Centerra Gold will post 1.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Centerra Gold

Hedge funds and other institutional investors have recently modified their holdings of the company. Pictet Asset Management Holding SA grew its stake in shares of Centerra Gold by 3.5% in the first quarter. Pictet Asset Management Holding SA now owns 39,102 shares of the company's stock worth $693,000 after acquiring an additional 1,340 shares during the period. Baron Wealth Management LLC lifted its position in Centerra Gold by 6.2% during the first quarter. Baron Wealth Management LLC now owns 27,602 shares of the company's stock valued at $491,000 after purchasing an additional 1,621 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Centerra Gold in the second quarter worth approximately $28,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. boosted its holdings in Centerra Gold by 2.8% in the second quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 81,100 shares of the company's stock worth $1,281,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Kestra Advisory Services LLC boosted its holdings in Centerra Gold by 35.0% in the first quarter. Kestra Advisory Services LLC now owns 10,797 shares of the company's stock worth $192,000 after purchasing an additional 2,797 shares during the last quarter. 55.40% of the stock is owned by institutional investors.

About Centerra Gold

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.

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