Centerra Gold (NYSE:CGAU) Stock Rating Raised to Hold at Zacks Research

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

Several other research firms have also issued reports on CGAU. Scotiabank reiterated an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, August 4th. Weiss Ratings downgraded shares of Centerra Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday. Wall Street Zen downgraded shares of Centerra Gold from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Centerra Gold in a research note on Friday, October 16th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Centerra Gold Stock Down 3.7%

CGAU stock opened at $22.18 on Monday. The company has a market cap of $4.30 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 2.10 and a beta of 0.84. The company has a quick ratio of 1.25, a current ratio of 2.07 and a debt-to-equity ratio of 0.03. Centerra Gold has a 52 week low of $11.34 and a 52 week high of $24.52. The business has a 50-day simple moving average of $21.88 and a 200 day simple moving average of $19.11.

Centerra Gold (NYSE:CGAU) last released its earnings results on Thursday, October 29th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.33 by $0.04. The firm had revenue of $500.30 million for the quarter, compared to analyst estimates of $440.83 million. Centerra Gold had a net margin of 23.67% and a return on equity of 15.10%. Sell-side analysts anticipate that Centerra Gold will post 1.57 EPS for the current fiscal year.

Institutional Trading of Centerra Gold

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC grew its stake in shares of Centerra Gold by 8,621.4% during the third quarter. Global Retirement Partners LLC now owns 1,221 shares of the company’s stock worth $27,000 after buying an additional 1,207 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Centerra Gold in the 2nd quarter valued at $28,000. Pinnacle Holdings LLC bought a new position in shares of Centerra Gold in the 2nd quarter valued at $45,000. C M Bidwell & Associates Ltd. bought a new position in shares of Centerra Gold in the 2nd quarter valued at $83,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Centerra Gold by 97.8% during the 3rd quarter. Parallel Advisors LLC now owns 6,902 shares of the company’s stock valued at $150,000 after acquiring an additional 3,413 shares in the last quarter. Institutional investors own 55.40% of the company’s stock.

Centerra Gold Company Profile

Centerra Gold Inc. is a Canadian mining company that acquires, explores, develops, and operates mineral properties, with a focus on gold and copper. Its principal producing assets include the Mount Milligan copper-gold mine in British Columbia, Canada, and the Öksüt gold mine in Türkiye. The company also owns the Thompson Creek molybdenum mine in Idaho, which is on care and maintenance, and the Langeloth metallurgical facility in Pennsylvania. These assets give Centerra exposure to both precious and industrial metals.