Centerra Gold Inc. (NYSE:CGAU) Given Average Rating of “Moderate Buy” by Analysts

Centerra Gold Inc. (NYSE:CGAU) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $9.80.

Several brokerages have weighed in on CGAU. Cibc World Mkts lowered Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Scotiabank lifted their target price on shares of Centerra Gold from $8.00 to $9.00 and gave the company a “sector outperform” rating in a research note on Thursday, May 23rd. Finally, CIBC reissued a “neutral” rating and issued a $13.00 target price (up from $11.00) on shares of Centerra Gold in a research report on Wednesday, July 10th.

Centerra Gold Stock Performance

Shares of CGAU opened at $6.62 on Thursday. The company has a market capitalization of $1.42 billion, a PE ratio of 24.52 and a beta of 0.98. The company’s 50 day moving average price is $6.82 and its 200 day moving average price is $6.48. Centerra Gold has a 52 week low of $4.47 and a 52 week high of $7.51.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.16 by $0.07. Centerra Gold had a net margin of 10.68% and a return on equity of 10.72%. The business had revenue of $282.31 million for the quarter. During the same quarter in the prior year, the firm earned ($0.20) earnings per share. On average, equities analysts forecast that Centerra Gold will post 0.81 earnings per share for the current fiscal year.

Centerra Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.051 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.20 dividend on an annualized basis and a yield of 3.08%. Centerra Gold’s payout ratio is currently 74.07%.

Institutional Trading of Centerra Gold

Several large investors have recently modified their holdings of CGAU. Vanguard Personalized Indexing Management LLC boosted its stake in Centerra Gold by 12.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock valued at $96,000 after purchasing an additional 1,573 shares during the period. Hsbc Holdings PLC boosted its position in shares of Centerra Gold by 4.1% in the second quarter. Hsbc Holdings PLC now owns 48,101 shares of the company’s stock valued at $325,000 after acquiring an additional 1,895 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Centerra Gold by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 178,489 shares of the company’s stock worth $1,199,000 after acquiring an additional 2,120 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Centerra Gold by 2.1% in the fourth quarter. CIBC Asset Management Inc now owns 211,525 shares of the company’s stock worth $1,267,000 after acquiring an additional 4,327 shares during the last quarter. Finally, TD Asset Management Inc increased its position in Centerra Gold by 0.7% during the second quarter. TD Asset Management Inc now owns 587,062 shares of the company’s stock worth $3,947,000 after acquiring an additional 4,356 shares during the period. 55.40% of the stock is owned by 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.