Centerra Gold (NYSE:CGAU) Issues Quarterly Earnings Results

Centerra Gold (NYSE:CGAU) posted its quarterly earnings results on Tuesday. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01, Zacks reports. Centerra Gold had a net margin of 36.92% and a return on equity of 15.60%. The business had revenue of $442.71 million during the quarter, compared to the consensus estimate of $410.75 million.

Centerra Gold Price Performance

NYSE:CGAU traded up $0.59 during mid-day trading on Thursday, hitting $17.62. 678,357 shares of the company’s stock traded hands, compared to its average volume of 1,854,993. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.60 and a current ratio of 2.41. The company has a market cap of $3.49 billion, a PE ratio of 5.61, a price-to-earnings-growth ratio of 0.61 and a beta of 0.81. The firm’s 50 day simple moving average is $16.28 and its 200 day simple moving average is $17.50. Centerra Gold has a 1 year low of $6.71 and a 1 year high of $21.17.

Centerra Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.6%. The ex-dividend date is Wednesday, August 19th. Centerra Gold’s dividend payout ratio (DPR) is 6.77%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CGAU shares. Wall Street Zen downgraded shares of Centerra Gold from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings downgraded shares of Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, Scotiabank reiterated an “outperform” rating on shares of Centerra Gold in a research note on Tuesday, July 7th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.50.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC purchased a new position in Centerra Gold during the fourth quarter worth $36,000. Osaic Holdings Inc. increased its position in Centerra Gold by 63.0% during the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock worth $34,000 after purchasing an additional 1,839 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in Centerra Gold during the 4th quarter worth about $100,000. Kestra Advisory Services LLC acquired a new position in Centerra Gold in the 4th quarter valued at about $115,000. Finally, Numerai GP LLC acquired a new position in Centerra Gold in the 3rd quarter valued at about $108,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

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.