Centerra Gold (NYSE:CGAU) Raised to "Buy" at Wall Street Zen

Key Points

• Centerra Gold has been upgraded from a "hold" rating to a "buy" by Wall Street Zen, reflecting increasing analyst confidence in the company.
• The stock is currently rated a "Moderate Buy" with a consensus price target of $13.00, following a mixed response from various analysts.
• Centerra Gold reported earnings per share of $0.25 for the last quarter, surpassing analyst expectations, though revenue was below consensus estimates.

Wall Street Zen upgraded shares of Centerra Gold (NYSE:CGAU - Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday.

CGAU has been the subject of a number of other research reports. National Bankshares restated an "outperform" rating on shares of Centerra Gold in a research note on Tuesday, June 24th. Scotiabank restated an "outperform" rating on shares of Centerra Gold in a research report on Monday, April 14th. Cibc World Mkts raised shares of Centerra Gold from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. BMO Capital Markets lowered shares of Centerra Gold from a "strong-buy" rating to a "hold" rating in a report on Friday. Finally, CIBC restated an "outperform" rating on shares of Centerra Gold in a research report on Tuesday, July 15th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $13.00.

Centerra Gold Trading Up 0.2%

Shares of CGAU traded up $0.02 during midday trading on Friday, reaching $7.05. The stock had a trading volume of 1,096,705 shares, compared to its average volume of 925,237. The firm has a 50 day simple moving average of $7.24 and a 200-day simple moving average of $6.70. Centerra Gold has a one year low of $5.41 and a one year high of $7.82. The firm has a market cap of $1.44 billion, a PE ratio of 21.35, a P/E/G ratio of 0.46 and a beta of 0.80.

Centerra Gold (NYSE:CGAU - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.08. Centerra Gold had a net margin of 6.21% and a return on equity of 9.12%. The company had revenue of $288.30 million during the quarter, compared to the consensus estimate of $319.42 million. As a group, research analysts forecast that Centerra Gold will post 0.59 EPS for the current fiscal year.

Centerra Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, August 21st. Centerra Gold's dividend payout ratio (DPR) is currently 60.61%.

Institutional Investors Weigh In On Centerra Gold

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new stake in Centerra Gold in the fourth quarter valued at approximately $396,000. Deutsche Bank AG grew its position in Centerra Gold by 91.5% during the fourth quarter. Deutsche Bank AG now owns 23,218 shares of the company's stock valued at $132,000 after acquiring an additional 11,093 shares during the last quarter. Nuveen Asset Management LLC grew its position in Centerra Gold by 3.1% during the fourth quarter. Nuveen Asset Management LLC now owns 1,890,136 shares of the company's stock valued at $10,750,000 after acquiring an additional 57,609 shares during the last quarter. Geode Capital Management LLC grew its position in Centerra Gold by 15.6% during the fourth quarter. Geode Capital Management LLC now owns 525,967 shares of the company's stock valued at $2,993,000 after acquiring an additional 71,028 shares during the last quarter. Finally, Millennium Management LLC grew its position in Centerra Gold by 0.3% during the fourth quarter. Millennium Management LLC now owns 585,238 shares of the company's stock valued at $3,330,000 after acquiring an additional 1,663 shares during the last quarter. 55.40% of the stock is owned by hedge funds and other institutional investors.

Centerra Gold Company Profile

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.