Centerra Gold Inc. (NYSE:CGAU) Receives Average Rating of “Hold” from Analysts

Shares of Centerra Gold Inc. (NYSE:CGAU) have earned an average recommendation of “Hold” from the five brokerages that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $11.00.

Several equities research analysts have recently commented on the stock. Cormark downgraded shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Desjardins downgraded Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, Scotiabank lowered their price objective on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a research note on Wednesday, January 15th.

Institutional Investors Weigh In On Centerra Gold

Institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Centerra Gold by 36.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock worth $31,514,000 after buying an additional 1,175,000 shares during the last quarter. Jane Street Group LLC raised its position in Centerra Gold by 145.6% in the third quarter. Jane Street Group LLC now owns 419,992 shares of the company’s stock worth $3,015,000 after acquiring an additional 249,004 shares during the period. Geode Capital Management LLC boosted its stake in Centerra Gold by 378.7% in the third quarter. Geode Capital Management LLC now owns 454,939 shares of the company’s stock valued at $4,152,000 after acquiring an additional 359,905 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Centerra Gold in the third quarter valued at about $4,454,000. Finally, HighTower Advisors LLC bought a new position in shares of Centerra Gold during the 3rd quarter valued at approximately $127,000. 55.40% of the stock is owned by institutional investors.

Centerra Gold Stock Performance

Shares of NYSE:CGAU opened at $5.90 on Friday. Centerra Gold has a 52-week low of $5.46 and a 52-week high of $7.82. The business’s 50 day simple moving average is $6.09 and its two-hundred day simple moving average is $6.45. The firm has a market cap of $1.24 billion, a P/E ratio of 16.39 and a beta of 0.92.

Centerra Gold (NYSE:CGAU) last issued its earnings results on Thursday, February 20th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The firm had revenue of $302.40 million during the quarter, compared to the consensus estimate of $316.92 million. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. On average, equities analysts forecast that Centerra Gold will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $0.07 per share. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date is Thursday, March 13th. Centerra Gold’s dividend payout ratio (DPR) is presently 52.78%.

About Centerra Gold

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.