Centerra Gold (NYSE:CGAU) Raised to “Hold” at Zacks Research

Centerra Gold (NYSE:CGAU) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

Several other equities analysts have also commented on CGAU. Weiss Ratings lowered shares of Centerra Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Centerra Gold in a research note on Friday, October 16th. Wall Street Zen lowered shares of Centerra Gold from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Scotiabank restated an “outperform” rating on shares of Centerra Gold in a report on Tuesday, August 4th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Centerra Gold Stock Down 3.7%

Shares of CGAU opened at $22.18 on Monday. Centerra Gold has a 1 year low of $11.34 and a 1 year high of $24.52. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.07 and a quick ratio of 1.25. The stock has a 50 day simple moving average of $21.88 and a two-hundred day simple moving average of $19.11. The firm has a market cap of $4.30 billion, a P/E ratio of 10.32, a P/E/G ratio of 2.10 and a beta of 0.84.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.33 by $0.04. The firm had revenue of $500.30 million for the quarter, compared to the consensus estimate of $440.83 million. Centerra Gold had a net margin of 23.67% and a return on equity of 15.10%. On average, analysts forecast that Centerra Gold will post 1.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Centerra Gold

Institutional investors and hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC raised its position in shares of Centerra Gold by 8,621.4% in the 3rd quarter. Global Retirement Partners LLC now owns 1,221 shares of the company’s stock worth $27,000 after purchasing an additional 1,207 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Centerra Gold during the 2nd quarter valued at about $28,000. Pinnacle Holdings LLC bought a new stake in Centerra Gold during the 2nd quarter valued at about $45,000. C M Bidwell & Associates Ltd. bought a new stake in Centerra Gold during the 2nd quarter valued at about $83,000. Finally, Parallel Advisors LLC raised its holdings in Centerra Gold by 97.8% in the third quarter. Parallel Advisors LLC now owns 6,902 shares of the company’s stock worth $150,000 after buying an additional 3,413 shares during the last quarter. 55.40% of the stock is currently owned by institutional investors.

About Centerra Gold

Centerra Gold Inc. is a Canadian mining company that acquires, explores, develops, and operates mineral properties, with a focus on gold and copper. Its principal producing assets include the Mount Milligan copper-gold mine in British Columbia, Canada, and the Öksüt gold mine in Türkiye. The company also owns the Thompson Creek molybdenum mine in Idaho, which is on care and maintenance, and the Langeloth metallurgical facility in Pennsylvania. These assets give Centerra exposure to both precious and industrial metals.