Centerra Gold (NYSE:CGAU) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Centerra Gold (NYSE:CGAU) has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, amidst mixed assessments from other analysts.
• The company's stock recently traded at $10.23, with a market cap of $2.07 billion and a consensus price target of $12.83 based on analyst ratings.
• Deutsche Bank AG and Invesco Ltd. have recently increased their holdings in Centerra Gold, indicating institutional investor interest despite the downgrade.

Centerra Gold (NYSE:CGAU - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Friday.

CGAU has been the topic of several other reports. CIBC reissued an "outperform" rating on shares of Centerra Gold in a research report on Tuesday, July 15th. Scotiabank lowered their price objective on Centerra Gold from $12.00 to $9.50 and set a "sector outperform" rating for the company in a research report on Tuesday, September 16th. BMO Capital Markets reiterated a "market perform" rating on shares of Centerra Gold in a report on Monday, September 15th. National Bankshares reissued an "outperform" rating on shares of Centerra Gold in a report on Tuesday, June 24th. Finally, Royal Bank Of Canada cut Centerra Gold from an "outperform" rating to a "sector perform" rating and boosted their price target for the company from $13.00 to $14.00 in a research report on Wednesday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.83.

Centerra Gold Trading Up 3.2%

Shares of NYSE CGAU traded up $0.31 during trading hours on Friday, reaching $10.23. The stock had a trading volume of 1,610,545 shares, compared to its average volume of 2,013,426. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 31.01, a P/E/G ratio of 3.03 and a beta of 0.82. The business's fifty day moving average price is $8.07 and its two-hundred day moving average price is $7.22. Centerra Gold has a 52-week low of $5.41 and a 52-week high of $10.34.

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

Hedge Funds Weigh In On Centerra Gold

Several hedge funds and other institutional investors have recently made changes to their positions in CGAU. Deutsche Bank AG lifted its position in Centerra Gold by 91.5% in the fourth quarter. Deutsche Bank AG now owns 23,218 shares of the company's stock worth $132,000 after purchasing an additional 11,093 shares during the period. Invesco Ltd. raised its position in Centerra Gold by 37.5% in the first quarter. Invesco Ltd. now owns 2,180,721 shares of the company's stock worth $13,848,000 after purchasing an additional 594,674 shares in the last quarter. Hsbc Holdings PLC raised its position in Centerra Gold by 4.7% in the first quarter. Hsbc Holdings PLC now owns 55,268 shares of the company's stock worth $351,000 after purchasing an additional 2,499 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Centerra Gold by 0.3% during the fourth quarter. Millennium Management LLC now owns 585,238 shares of the company's stock worth $3,330,000 after buying an additional 1,663 shares in the last quarter. Finally, AMH Equity Ltd bought a new stake in shares of Centerra Gold during the first quarter valued at approximately $902,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

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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