Centerra Gold (NYSE:CGAU) Stock Rating Raised to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Centerra Gold from “strong sell” to “hold.” Analyst opinions remain mixed, with MarketBeat reporting a “Moderate Buy” consensus and a $21 average price target.
• Centerra reported quarterly EPS of $0.37, beating the $0.33 consensus, and revenue of $500.3 million versus estimates of $440.83 million.
• Shares opened at $22.18, within a 12-month range of $11.34 to $24.52; institutional investors own 55.4% of the stock.

Centerra Gold (NYSE:CGAU - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Monday, Zacks reports.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings cut shares of Centerra Gold from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday. Scotiabank restated an "outperform" rating on shares of Centerra Gold in a report on Tuesday, August 4th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Centerra Gold in a research report on Friday, October 16th. Finally, Wall Street Zen cut shares of Centerra Gold from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

Centerra Gold Stock Performance

Shares of CGAU opened at $22.18 on Monday. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 2.10 and a beta of 0.84. Centerra Gold has a 12 month low of $11.34 and a 12 month high of $24.52. The firm has a fifty day simple moving average of $21.88 and a 200 day simple moving average of $19.11. The company has a current ratio of 2.07, a quick ratio of 1.25 and a debt-to-equity ratio of 0.03.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.33 by $0.04. The firm had revenue of $500.30 million during the quarter, compared to analysts' expectations of $440.83 million. Centerra Gold had a return on equity of 15.10% and a net margin of 23.67%. Research analysts forecast that Centerra Gold will post 1.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Centerra Gold

A number of hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC boosted its holdings in Centerra Gold by 8,621.4% in the 3rd quarter. Global Retirement Partners LLC now owns 1,221 shares of the company's stock valued at $27,000 after purchasing an additional 1,207 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Centerra Gold in the second quarter valued at approximately $28,000. Pinnacle Holdings LLC acquired a new stake in shares of Centerra Gold in the second quarter valued at approximately $45,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Centerra Gold in the second quarter valued at approximately $83,000. Finally, Parallel Advisors LLC boosted its stake in shares of Centerra Gold by 97.8% in the third quarter. Parallel Advisors LLC now owns 6,902 shares of the company's stock valued at $150,000 after buying an additional 3,413 shares during the period. 55.40% of the stock is owned by institutional investors.

Centerra Gold Company Profile

Centerra Gold Inc. is a Canadian mining company that acquires, explores, develops, and operates mineral properties, with a focus on gold and copper. Its principal producing assets include the Mount Milligan copper-gold mine in British Columbia, Canada, and the Öksüt gold mine in Türkiye. The company also owns the Thompson Creek molybdenum mine in Idaho, which is on care and maintenance, and the Langeloth metallurgical facility in Pennsylvania. These assets give Centerra exposure to both precious and industrial metals.

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