Centerra Gold (NYSE:CGAU) Raised to “Strong-Buy” at Wall Street Zen

Centerra Gold (NYSE:CGAU) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also recently commented on CGAU. Royal Bank Of Canada downgraded shares of Centerra Gold from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $13.00 to $14.00 in a report on Wednesday, September 10th. CIBC restated an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, July 15th. Cormark raised Centerra Gold from a “hold” rating to a “moderate buy” rating in a research report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Centerra Gold in a research note on Wednesday, October 8th. Finally, Scotiabank restated an “outperform” rating on shares of Centerra Gold in a research note on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Centerra Gold has a consensus rating of “Moderate Buy” and an average target price of $14.17.

Centerra Gold Price Performance

CGAU opened at $11.69 on Friday. The business’s 50-day moving average is $10.16 and its two-hundred day moving average is $8.17. Centerra Gold has a 1 year low of $5.41 and a 1 year high of $12.80. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.89 and a quick ratio of 2.59. The firm has a market capitalization of $2.36 billion, a PE ratio of 7.13, a price-to-earnings-growth ratio of 0.62 and a beta of 0.88.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Tuesday, October 28th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.11. Centerra Gold had a return on equity of 10.47% and a net margin of 26.35%.The firm had revenue of $395.20 million for the quarter, compared to the consensus estimate of $314.74 million. Research analysts anticipate that Centerra Gold will post 0.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Centerra Gold

Institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its position in shares of Centerra Gold by 57.2% during the first quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock worth $84,739,000 after buying an additional 4,853,494 shares during the period. Royal Bank of Canada lifted its stake in Centerra Gold by 9.2% during the 1st quarter. Royal Bank of Canada now owns 8,684,513 shares of the company’s stock worth $55,146,000 after acquiring an additional 734,104 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Centerra Gold by 26.2% during the 2nd quarter. Acadian Asset Management LLC now owns 8,494,055 shares of the company’s stock worth $61,027,000 after acquiring an additional 1,761,904 shares in the last quarter. Vanguard Group Inc. increased its stake in Centerra Gold by 0.7% during the first quarter. Vanguard Group Inc. now owns 8,310,457 shares of the company’s stock worth $52,722,000 after purchasing an additional 55,839 shares during the period. Finally, Ruffer LLP increased its stake in Centerra Gold by 0.9% during the second quarter. Ruffer LLP now owns 7,153,309 shares of the company’s stock worth $51,590,000 after purchasing an additional 64,070 shares during the period. 55.40% of the stock is owned by hedge funds and other institutional investors.

About Centerra Gold

Centerra Gold Inc, a gold mining company, engages in the acquisition, exploration, development, and operation of gold and copper properties in North America, Turkey, and internationally. The company explores for gold, copper, and molybdenum deposits. Its flagship projects are the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt gold mine located in Turkey.