Wall Street Zen Downgrades Centerra Gold (NYSE:CGAU) to Hold

Centerra Gold (NYSE:CGAU) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Several other brokerages also recently weighed in on CGAU. Royal Bank Of Canada downgraded Centerra Gold from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $13.00 to $14.00 in a report on Wednesday, September 10th. BMO Capital Markets reissued a “market perform” rating on shares of Centerra Gold in a research note on Monday, September 15th. National Bankshares reissued an “outperform” rating on shares of Centerra Gold in a research note on Tuesday, June 24th. CIBC reissued an “outperform” rating on shares of Centerra Gold in a research note on Tuesday, July 15th. Finally, Scotiabank dropped their price objective on Centerra Gold from $12.00 to $9.50 and set a “sector outperform” rating on the stock in a research note on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.83.

Centerra Gold Price Performance

Shares of CGAU stock opened at $10.23 on Friday. Centerra Gold has a 1 year low of $5.41 and a 1 year high of $10.34. The stock’s 50 day simple moving average is $8.07 and its two-hundred day simple moving average is $7.23. The company has a market cap of $2.07 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 3.13 and a beta of 0.82.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.08. Centerra Gold had a return on equity of 9.12% and a net margin of 6.21%.The firm had revenue of $288.30 million for the quarter, compared to the consensus estimate of $319.42 million. Equities research analysts expect that Centerra Gold will post 0.59 EPS for the current year.

Institutional Investors Weigh In On Centerra Gold

A number of institutional investors have recently modified their holdings of the business. Deutsche Bank AG boosted its holdings in Centerra Gold by 91.5% in the 4th quarter. Deutsche Bank AG now owns 23,218 shares of the company’s stock worth $132,000 after buying an additional 11,093 shares during the last quarter. Invesco Ltd. lifted its stake in Centerra Gold by 37.5% during the first quarter. Invesco Ltd. now owns 2,180,721 shares of the company’s stock worth $13,848,000 after purchasing an additional 594,674 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Centerra Gold by 4.7% during the first quarter. Hsbc Holdings PLC now owns 55,268 shares of the company’s stock worth $351,000 after purchasing an additional 2,499 shares in the last quarter. Millennium Management LLC lifted its stake in Centerra Gold by 0.3% during the fourth quarter. Millennium Management LLC now owns 585,238 shares of the company’s stock worth $3,330,000 after purchasing an additional 1,663 shares in the last quarter. Finally, AMH Equity Ltd acquired a new position in Centerra Gold during the first quarter worth $902,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

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.