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

Shares of Centerra Gold Inc. (NYSE:CGAU) have been given a consensus rating of “Moderate Buy” by the five research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $11.00.

Several brokerages have commented on CGAU. Desjardins upgraded shares of Centerra Gold to a “moderate buy” rating in a research note on Thursday. CIBC reiterated a “neutral” rating and issued a $13.00 price target (up previously from $11.00) on shares of Centerra Gold in a research note on Wednesday, July 10th. Finally, Cibc World Mkts cut shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th.

Hedge Funds Weigh In On Centerra Gold

A number of institutional investors have recently modified their holdings of the stock. Old West Investment Management LLC boosted its stake in shares of Centerra Gold by 100.0% during the third quarter. Old West Investment Management LLC now owns 400,000 shares of the company’s stock valued at $2,864,000 after purchasing an additional 200,000 shares in the last quarter. Integrated Advisors Network LLC bought a new position in shares of Centerra Gold during the third quarter valued at approximately $367,000. Semanteon Capital Management LP boosted its stake in shares of Centerra Gold by 152.3% during the third quarter. Semanteon Capital Management LP now owns 46,972 shares of the company’s stock valued at $336,000 after purchasing an additional 28,358 shares in the last quarter. CWM LLC bought a new position in shares of Centerra Gold during the third quarter valued at approximately $57,000. Finally, Mackenzie Financial Corp boosted its stake in shares of Centerra Gold by 111.3% during the second quarter. Mackenzie Financial Corp now owns 1,493,717 shares of the company’s stock valued at $10,046,000 after purchasing an additional 786,688 shares in the last quarter. 55.40% of the stock is owned by hedge funds and other institutional investors.

Centerra Gold Price Performance

Shares of Centerra Gold stock opened at $6.52 on Friday. The company’s fifty day simple moving average is $7.09 and its 200-day simple moving average is $6.85. The stock has a market capitalization of $1.38 billion, a PE ratio of 10.35 and a beta of 0.98. Centerra Gold has a 1-year low of $4.47 and a 1-year high of $7.82.

Centerra Gold (NYSE:CGAU) last released its earnings results on Thursday, August 1st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.07. Centerra Gold had a net margin of 10.68% and a return on equity of 10.72%. The company had revenue of $282.31 million for the quarter. During the same quarter last year, the firm posted ($0.20) EPS. As a group, research analysts anticipate that Centerra Gold will post 0.84 EPS for the current year.

Centerra Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.052 per share. This represents a $0.21 annualized dividend and a yield of 3.19%. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, November 13th. Centerra Gold’s dividend payout ratio is presently 31.75%.

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.