Centerra Gold (NYSE:CGAU) Announces Earnings Results, Beats Estimates By $0.07 EPS

Centerra Gold (NYSE:CGAU) posted its quarterly earnings data on Thursday. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07, Zacks reports. Centerra Gold had a net margin of 26.35% and a return on equity of 10.47%. The firm had revenue of $401.60 million during the quarter, compared to the consensus estimate of $355.39 million.

Centerra Gold Price Performance

NYSE CGAU opened at $18.78 on Friday. The company has a market cap of $3.75 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 0.43 and a beta of 0.88. The company has a quick ratio of 2.10, a current ratio of 2.89 and a debt-to-equity ratio of 0.02. The firm’s 50-day simple moving average is $16.51 and its two-hundred day simple moving average is $12.52. Centerra Gold has a 52 week low of $5.41 and a 52 week high of $20.40.

Centerra Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Thursday, March 12th. Centerra Gold’s payout ratio is 12.20%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. lifted its position 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 worth $34,000 after acquiring an additional 1,839 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in Centerra Gold during the 4th quarter worth about $36,000. Dynamic Technology Lab Private Ltd bought a new position in Centerra Gold in the 1st quarter worth about $97,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Centerra Gold during the fourth quarter valued at about $100,000. Finally, Numerai GP LLC purchased a new stake in shares of Centerra Gold in the third quarter worth about $108,000. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CGAU shares. Raymond James Financial reiterated a “market perform” rating on shares of Centerra Gold in a research report on Thursday, October 30th. BMO Capital Markets raised shares of Centerra Gold from a “hold” rating to an “outperform” rating in a research report on Tuesday, January 20th. Zacks Research raised Centerra Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Centerra Gold in a report on Wednesday, February 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Centerra Gold in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

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.