Centerra Gold (NYSE:CGAU) Stock Rating Upgraded by Wall Street Zen

Centerra Gold (NYSE:CGAU) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

Several other brokerages have also issued reports on CGAU. BMO Capital Markets upgraded shares of Centerra Gold from a “hold” rating to an “outperform” rating in a research report on Tuesday, January 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Centerra Gold in a research note on Monday, December 29th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Centerra Gold in a research note on Wednesday, February 4th. Scotiabank raised their target price on Centerra Gold from $13.50 to $19.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Finally, Zacks Research downgraded Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Centerra Gold Stock Down 0.2%

CGAU stock opened at $16.74 on Friday. Centerra Gold has a fifty-two week low of $5.41 and a fifty-two week high of $21.17. The business’s 50-day moving average is $18.28 and its two-hundred day moving average is $14.53. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.65 and a current ratio of 2.39. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 5.89, a P/E/G ratio of 0.84 and a beta of 0.83.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Centerra Gold had a return on equity of 12.42% and a net margin of 42.18%.The business had revenue of $401.60 million during the quarter, compared to the consensus estimate of $355.39 million. As a group, analysts forecast that Centerra Gold will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Virtu Financial LLC bought a new position in Centerra Gold in the 4th quarter worth $312,000. Mackenzie Financial Corp raised its holdings in Centerra Gold by 677.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,264,565 shares of the company’s stock valued at $18,300,000 after acquiring an additional 1,101,830 shares during the period. XTX Topco Ltd lifted its position in shares of Centerra Gold by 291.8% in the fourth quarter. XTX Topco Ltd now owns 77,301 shares of the company’s stock valued at $1,111,000 after acquiring an additional 57,569 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Centerra Gold in the fourth quarter valued at about $939,000. Finally, Numerai GP LLC boosted its stake in shares of Centerra Gold by 133.2% in the fourth quarter. Numerai GP LLC now owns 23,496 shares of the company’s stock worth $338,000 after acquiring an additional 13,421 shares during the period. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Centerra Gold Company Profile

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.