Centerra Gold (NYSE:CGAU) Upgraded by Zacks Research to “Strong-Buy” Rating

Centerra Gold (NYSE:CGAU) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts have also recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Centerra Gold in a research note on Monday, December 29th. Wall Street Zen upgraded Centerra Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. BMO Capital Markets upgraded Centerra Gold from a “hold” rating to an “outperform” rating in a research note on Tuesday, January 20th. Raymond James Financial reiterated a “market perform” rating on shares of Centerra Gold in a research report on Thursday, October 30th. Finally, CIBC restated an “outperform” rating on shares of Centerra Gold in a report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $16.00.

Centerra Gold Stock Performance

Shares of NYSE:CGAU opened at $16.45 on Wednesday. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 0.38 and a beta of 0.88. Centerra Gold has a 12 month low of $5.41 and a 12 month high of $20.40. The firm’s 50-day moving average is $15.46 and its 200 day moving average is $11.73. The company has a current ratio of 2.89, a quick ratio of 2.10 and a debt-to-equity ratio of 0.02.

Institutional Trading of Centerra Gold

Several institutional investors and hedge funds have recently made changes to their positions in the company. Burkett Financial Services LLC purchased a new stake in Centerra Gold in the third quarter worth about $30,000. TD Waterhouse Canada Inc. raised its holdings in shares of Centerra Gold by 1,106.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 2,980 shares of the company’s stock valued at $33,000 after purchasing an additional 2,733 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of Centerra Gold by 63.0% in the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock worth $34,000 after purchasing an additional 1,839 shares during the period. Carrera Capital Advisors purchased a new stake in shares of Centerra Gold in the 2nd quarter worth approximately $81,000. Finally, Olympiad Research LP bought a new position in shares of Centerra Gold during the second quarter valued at approximately $89,000. 55.40% of the stock is currently owned by institutional investors.

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.