Centerra Gold (NYSE:CGAU) Issues Quarterly Earnings Results, Hits Estimates

Centerra Gold (NYSE:CGAU) announced its quarterly earnings data on Tuesday. The company reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39, Zacks reports. Centerra Gold had a return on equity of 14.90% and a net margin of 40.32%.

Centerra Gold Trading Down 2.3%

Centerra Gold stock traded down $0.38 during midday trading on Tuesday, hitting $16.09. 1,818,393 shares of the stock were exchanged, compared to its average volume of 1,852,301. The company has a current ratio of 2.41, a quick ratio of 1.60 and a debt-to-equity ratio of 0.06. The stock’s 50-day simple moving average is $16.28 and its 200 day simple moving average is $17.48. Centerra Gold has a fifty-two week low of $6.71 and a fifty-two week high of $21.17. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 5.19, a PEG ratio of 0.61 and a beta of 0.81.

Centerra Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.7%. The ex-dividend date was Thursday, May 21st. Centerra Gold’s dividend payout ratio (DPR) is presently 6.45%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CGAU shares. Scotiabank reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Tuesday, July 7th. Wall Street Zen downgraded shares of Centerra Gold from a “buy” rating to a “hold” rating in a research note on Saturday. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.50.

Institutional Trading of Centerra Gold

Several hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of Centerra Gold during the 4th quarter valued at approximately $312,000. Mackenzie Financial Corp lifted its holdings in Centerra Gold by 677.1% in 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 last quarter. XTX Topco Ltd grew its position in Centerra Gold by 291.8% in the fourth quarter. XTX Topco Ltd now owns 77,301 shares of the company’s stock worth $1,111,000 after acquiring an additional 57,569 shares during the period. Voloridge Investment Management LLC acquired a new stake in Centerra Gold during the fourth quarter worth $939,000. Finally, Numerai GP LLC raised its position in Centerra Gold by 133.2% in the fourth quarter. Numerai GP LLC now owns 23,496 shares of the company’s stock valued at $338,000 after purchasing 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.