Centerra Gold (NYSE:CGAU) Downgraded to "Sector Perform" Rating by Royal Bank Of Canada

Key Points

• Centerra Gold has been downgraded by Royal Bank of Canada from an "outperform" rating to a "sector perform" rating.
• The current consensus rating for Centerra Gold is "Moderate Buy" with an average target price of $13.00.
• Shares of Centerra Gold are trading at $8.84, down 0.6%, with significant recent institutional investment activity noted.

Centerra Gold (NYSE:CGAU - Get Free Report) was downgraded by analysts at Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research report issued on Wednesday, MarketBeat reports.

A number of other equities research analysts also recently weighed in on CGAU. Wall Street Zen upgraded Centerra Gold from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. CIBC reiterated an "outperform" rating on shares of Centerra Gold in a report on Tuesday, July 15th. National Bankshares reiterated an "outperform" rating on shares of Centerra Gold in a report on Tuesday, June 24th. Cibc World Mkts upgraded Centerra Gold from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 27th. Finally, BMO Capital Markets downgraded Centerra Gold from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $13.00.

Centerra Gold Trading Down 0.6%

Shares of CGAU stock opened at $8.84 on Wednesday. The business's 50-day moving average price is $7.49 and its 200-day moving average price is $6.90. Centerra Gold has a 12 month low of $5.41 and a 12 month high of $9.01. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 0.67 and a beta of 0.82.

Centerra Gold (NYSE:CGAU - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.08. The company had revenue of $288.30 million for the quarter, compared to analyst estimates of $319.42 million. Centerra Gold had a return on equity of 9.12% and a net margin of 6.21%. On average, sell-side analysts predict that Centerra Gold will post 0.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Centerra Gold

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC bought a new position in Centerra Gold during the 2nd quarter worth approximately $27,000. Osaic Holdings Inc. raised its holdings in Centerra Gold by 63.0% in the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company's stock worth $34,000 after purchasing an additional 1,839 shares in the last quarter. Pinnacle Holdings LLC bought a new position in Centerra Gold in the first quarter worth $39,000. Vise Technologies Inc. purchased a new position in Centerra Gold during the fourth quarter valued at $58,000. Finally, Carrera Capital Advisors purchased a new position in Centerra Gold during the second quarter valued at $81,000. 55.40% of the stock is currently owned by institutional investors.

About Centerra Gold

Centerra Gold Inc, a gold mining company, engages in the acquisition, exploration, development, and operation of gold and copper properties in North America, Turkey, and internationally. The company explores for gold, copper, and molybdenum deposits. Its flagship projects are the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt gold mine located in Turkey.

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