Centerra Gold (NYSE:CGAU) Raised to “Strong-Buy” at Zacks Research

Centerra Gold (NYSE:CGAU) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Scotiabank lifted their price objective on Centerra Gold from $13.50 to $19.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Centerra Gold in a report on Monday, December 29th. Raymond James Financial reaffirmed a “market perform” rating on shares of Centerra Gold in a report on Thursday, October 30th. CIBC reissued an “outperform” rating on shares of Centerra Gold in a report on Wednesday. Finally, Cormark raised shares of Centerra Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $16.00.

Centerra Gold Stock Down 5.9%

CGAU stock opened at $16.45 on Wednesday. The company has a market capitalization of $3.29 billion, a P/E ratio of 10.03, a price-to-earnings-growth ratio of 0.38 and a beta of 0.88. Centerra Gold has a 12 month low of $5.41 and a 12 month high of $20.40. The firm’s fifty day simple moving average is $15.46 and its 200-day simple moving average is $11.73. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.89 and a quick ratio of 2.10.

Institutional Trading of Centerra Gold

Several institutional investors have recently modified their holdings of CGAU. Burkett Financial Services LLC acquired a new position in shares of Centerra Gold during the 3rd quarter worth about $30,000. TD Waterhouse Canada Inc. increased its stake in Centerra Gold by 1,106.5% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 2,980 shares of the company’s stock worth $33,000 after buying an additional 2,733 shares in the last quarter. Osaic Holdings Inc. raised its holdings in shares of Centerra Gold by 63.0% during the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock valued at $34,000 after acquiring an additional 1,839 shares during the last quarter. State of Wyoming acquired a new position in shares of Centerra Gold during the third quarter valued at approximately $90,000. Finally, Numerai GP LLC purchased a new position in shares of Centerra Gold in the third quarter valued at approximately $108,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

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.