Centerra Gold (NYSE:CGAU) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Centerra Gold (NYSE:CGAU) released its earnings results on Wednesday. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.09, Zacks reports. Centerra Gold had a return on equity of 12.42% and a net margin of 42.18%.

Centerra Gold Stock Performance

Centerra Gold stock traded down $0.63 during mid-day trading on Wednesday, hitting $17.41. The company had a trading volume of 1,791,646 shares, compared to its average volume of 2,094,043. The company has a current ratio of 2.39, a quick ratio of 1.65 and a debt-to-equity ratio of 0.04. Centerra Gold has a 12-month low of $6.30 and a 12-month high of $21.17. The company’s fifty day moving average is $18.55 and its 200-day moving average is $15.85. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 6.13, a P/E/G ratio of 1.18 and a beta of 0.90.

Centerra Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.6%. The ex-dividend date was Thursday, March 12th. Centerra Gold’s dividend payout ratio (DPR) is currently 7.04%.

Institutional Investors Weigh In On Centerra Gold

Hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. boosted its position in 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 in the last quarter. Global Retirement Partners LLC purchased a new stake in Centerra Gold in the 4th quarter worth approximately $36,000. Dynamic Technology Lab Private Ltd purchased a new stake in Centerra Gold in the 1st quarter worth approximately $97,000. C M Bidwell & Associates Ltd. purchased a new stake in Centerra Gold in the 4th quarter worth approximately $100,000. Finally, Numerai GP LLC purchased a new stake in Centerra Gold in the 3rd quarter worth approximately $108,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CGAU. Zacks Research downgraded Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. BMO Capital Markets raised Centerra Gold from a “hold” rating to an “outperform” rating in a research report on Tuesday, January 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Centerra Gold in a research report on Friday, March 27th. Scotiabank upped their target price on Centerra Gold from $19.00 to $21.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Centerra Gold in a research report on Wednesday, February 4th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.67.

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.