Centerra Gold (NYSE:CGAU) Stock Rating Lowered by Zacks Research

Centerra Gold (NYSE:CGAU) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other analysts have also recently issued reports on the company. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Centerra Gold in a research report on Wednesday, February 4th. BMO Capital Markets raised shares of Centerra Gold from a “hold” rating to an “outperform” rating in a report on Tuesday, January 20th. Wall Street Zen downgraded shares of Centerra Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Centerra Gold in a research note on Monday, December 29th. Finally, Scotiabank raised their price objective on shares of Centerra Gold from $13.50 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.00.

Centerra Gold Price Performance

Shares of NYSE:CGAU opened at $16.94 on Tuesday. Centerra Gold has a 12 month low of $5.41 and a 12 month high of $21.17. The firm has a market capitalization of $3.38 billion, a P/E ratio of 5.96, a P/E/G ratio of 0.82 and a beta of 0.83. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.39 and a quick ratio of 1.65. The company’s fifty day moving average price is $18.27 and its 200 day moving average price is $14.38.

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

Institutional Trading of Centerra Gold

Several hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new stake in shares of Centerra Gold in the first quarter valued at approximately $192,000. Dynamic Technology Lab Private Ltd acquired a new position in Centerra Gold during the first quarter worth $97,000. Goldman Sachs Group Inc. raised its position in Centerra Gold by 57.2% in the first quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock worth $84,739,000 after acquiring an additional 4,853,494 shares in the last quarter. Empowered Funds LLC purchased a new position in Centerra Gold in the first quarter worth $218,000. Finally, Geode Capital Management LLC lifted its holdings in Centerra Gold by 20.3% in the second quarter. Geode Capital Management LLC now owns 767,536 shares of the company’s stock valued at $5,534,000 after acquiring an additional 129,737 shares during the period. 55.40% of the stock is owned by institutional investors and hedge funds.

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.