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

Centerra Gold Inc. (NYSE:CGAU) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $21.00.

CGAU has been the subject of several analyst reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Centerra Gold in a research note on Thursday, July 30th. Weiss Ratings raised shares of Centerra Gold from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 31st. Scotiabank reaffirmed an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, August 4th. Finally, Wall Street Zen lowered Centerra Gold from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. acquired a new position in Centerra Gold in the 2nd quarter valued at $245,004,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Centerra Gold by 0.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,314,250 shares of the company’s stock worth $147,899,000 after buying an additional 39,315 shares during the last quarter. Hillsdale Investment Management Inc. increased its stake in Centerra Gold by 62.9% during the fourth quarter. Hillsdale Investment Management Inc. now owns 3,513,875 shares of the company’s stock worth $50,678,000 after acquiring an additional 1,356,660 shares during the last quarter. Heartland Advisors Inc. grew its holdings in shares of Centerra Gold by 0.7% during the 1st quarter. Heartland Advisors Inc. now owns 2,216,216 shares of the company’s stock worth $39,426,000 after purchasing an additional 14,766 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Centerra Gold during the 2nd quarter worth about $37,142,000. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Centerra Gold Price Performance

NYSE:CGAU opened at $21.78 on Tuesday. The company has a market capitalization of $4.26 billion, a P/E ratio of 6.96, a P/E/G ratio of 0.84 and a beta of 0.86. Centerra Gold has a 12 month low of $8.95 and a 12 month high of $24.52. The business’s 50-day moving average is $19.86 and its 200 day moving average is $18.42. The company has a current ratio of 2.42, a quick ratio of 1.49 and a debt-to-equity ratio of 0.03.

Centerra Gold (NYSE:CGAU) last posted its earnings results on Tuesday, July 28th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $394.27 million. On average, equities research analysts forecast that Centerra Gold will post 1.64 earnings per share for the current fiscal year.

Centerra Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Wednesday, August 19th. Centerra Gold’s dividend payout ratio (DPR) is currently 6.39%.

Centerra Gold Company Profile

Centerra Gold Inc is a Canadian-based mining company focused on the exploration, development, operation and reclamation of gold and copper properties. The company produces gold doré and copper concentrate for sale to commercial customers and also maintains mineral exploration and development activities in its operating regions.

Centerra’s principal assets include the Mount Milligan copper-gold mine in British Columbia, Canada, and the Öksüt gold mine in central Türkiye. Mount Milligan is an open-pit mine and mill that produces copper concentrate containing gold, while Öksüt is an open-pit, heap-leach operation that produces gold doré.