Centerra Gold Inc. (NYSE:CGAU) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts give Centerra Gold a “Moderate Buy” consensus: Five of eight covering firms recommend buying the stock, while three rate it a hold. The average 12-month price target is $17.50.
• Centerra Gold exceeded quarterly expectations, reporting $0.39 in EPS versus the $0.38 consensus and revenue of $442.71 million versus $394.27 million expected.
• The company paid a quarterly dividend of $0.07, equivalent to an annualized $0.28 dividend and a 1.2% yield. Institutional investors own 55.4% of the company, with Goldman Sachs and Geode Capital among firms increasing their positions.

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eight ratings firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $17.50.

Several research firms recently weighed in on CGAU. Scotiabank reissued an "outperform" rating on shares of Centerra Gold in a report on Tuesday, August 4th. Weiss Ratings raised Centerra Gold from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 31st. Wall Street Zen downgraded Centerra Gold from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Centerra Gold in a research report on Thursday, July 30th.

Centerra Gold Trading Up 0.0%

CGAU stock opened at $22.93 on Tuesday. Centerra Gold has a one year low of $8.35 and a one year high of $24.52. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 7.33, a price-to-earnings-growth ratio of 0.86 and a beta of 0.86. The company has a fifty day moving average price of $19.22 and a two-hundred day moving average price of $18.29. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.42 and a quick ratio of 1.49.

Centerra Gold (NYSE:CGAU - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Centerra Gold had a net margin of 36.92% and a return on equity of 15.35%. The firm had revenue of $442.71 million for the quarter, compared to analysts' expectations of $394.27 million. Equities analysts anticipate that Centerra Gold will post 1.63 EPS for the current year.

Centerra Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were paid a $0.07 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.28 annualized dividend and a yield of 1.2%. Centerra Gold's payout ratio is 6.39%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new stake in shares of Centerra Gold in the first quarter valued at approximately $192,000. Dynamic Technology Lab Private Ltd bought a new position in Centerra Gold during the 1st quarter worth $97,000. Goldman Sachs Group Inc. increased its stake in Centerra Gold by 57.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company's stock worth $84,739,000 after acquiring an additional 4,853,494 shares during the period. Empowered Funds LLC acquired a new position in Centerra Gold in the 1st quarter valued at $218,000. Finally, Geode Capital Management LLC raised its holdings in Centerra Gold by 20.3% in the 2nd quarter. Geode Capital Management LLC now owns 767,536 shares of the company's stock valued at $5,534,000 after acquiring an additional 129,737 shares in the last quarter. Institutional investors and hedge funds own 55.40% of the company's stock.

About Centerra Gold

Centerra Gold Inc is a gold mining company incorporated in Canada and headquartered in Toronto. The company specializes in the exploration, development and operation of precious metals properties, with a focus on gold production. Centerra's portfolio includes the Mount Milligan mine in British Columbia, Canada, and the Otjikoto mine in Namibia. Both operations produce gold and copper concentrates and employ modern mining methods and processing facilities to optimize recovery rates and minimize environmental impact.

In addition to its producing assets, Centerra is advancing the development of its Greenstone Gold Project in Ontario, Canada, which, upon completion, is expected to become one of Canada's largest gold mines.

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