Centerra Gold (NYSE:CGAU) Stock Rating Upgraded by Cibc World Mkts

Centerra Gold (NYSE:CGAU - Get Free Report) was upgraded by equities researchers at Cibc World Mkts from a "hold" rating to a "strong-buy" rating in a report released on Tuesday,Zacks.com reports.

A number of other research firms have also issued reports on CGAU. National Bank Financial raised Centerra Gold to a "strong-buy" rating in a research note on Friday, March 21st. Raymond James reaffirmed an "outperform" rating on shares of Centerra Gold in a research report on Friday, April 4th. CIBC reissued a "neutral" rating on shares of Centerra Gold in a research report on Thursday, March 20th. National Bankshares reaffirmed an "outperform" rating on shares of Centerra Gold in a research report on Wednesday, April 23rd. Finally, Cormark lowered shares of Centerra Gold from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, three 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 stock currently has an average rating of "Moderate Buy" and an average target price of $12.00.

Centerra Gold Trading Up 5.7%

NYSE:CGAU traded up $0.41 during trading hours on Tuesday, hitting $7.54. The company's stock had a trading volume of 478,749 shares, compared to its average volume of 899,444. The stock has a market capitalization of $1.58 billion, a P/E ratio of 20.94 and a beta of 0.80. The stock has a fifty day moving average of $6.60 and a 200-day moving average of $6.22. Centerra Gold has a 52-week low of $5.41 and a 52-week high of $7.82.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. The company had revenue of $299.50 million for the quarter, compared to analyst estimates of $288.25 million. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. On average, sell-side analysts forecast that Centerra Gold will post 0.59 earnings per share for the current year.

Hedge Funds Weigh In On Centerra Gold

Large investors have recently made changes to their positions in the business. Millennium Management LLC raised its holdings in Centerra Gold by 0.3% in the 4th 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 in the last quarter. Hsbc Holdings PLC boosted its position in Centerra Gold by 4.7% in the 1st quarter. Hsbc Holdings PLC now owns 55,268 shares of the company's stock valued at $351,000 after buying an additional 2,499 shares during the last quarter. Toronto Dominion Bank boosted its position in Centerra Gold by 8.8% in the 4th quarter. Toronto Dominion Bank now owns 36,901 shares of the company's stock valued at $210,000 after buying an additional 2,980 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Centerra Gold by 2.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 181,755 shares of the company's stock valued at $1,036,000 after buying an additional 3,608 shares during the last quarter. Finally, Capstone Investment Advisors LLC lifted its stake in shares of Centerra Gold by 34.2% in the 4th quarter. Capstone Investment Advisors LLC now owns 16,712 shares of the company's stock valued at $95,000 after purchasing an additional 4,263 shares during the period. Institutional investors and hedge funds own 55.40% of the company's stock.

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.