Centerra Gold (NYSE:CGAU) Rating Lowered to Hold at Wall Street Zen

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

A number of other equities research analysts have also weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Centerra Gold in a report on Friday, March 27th. Scotiabank reissued an “outperform” rating on shares of Centerra Gold in a report on Tuesday, July 7th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.50.

Centerra Gold Stock Down 0.5%

Shares of Centerra Gold stock opened at $16.21 on Friday. The company has a market cap of $3.21 billion, a P/E ratio of 5.23, a PEG ratio of 0.62 and a beta of 0.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.60 and a current ratio of 2.41. Centerra Gold has a one year low of $6.71 and a one year high of $21.17. The firm has a fifty day moving average of $16.29 and a two-hundred day moving average of $17.46.

Centerra Gold (NYSE:CGAU) last issued its earnings results on Wednesday, April 29th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. The business had revenue of $484.70 million for the quarter, compared to the consensus estimate of $373.47 million. Centerra Gold had a net margin of 40.32% and a return on equity of 14.90%. On average, analysts forecast that Centerra Gold will post 1.61 earnings per share for the current year.

Institutional Investors Weigh In On Centerra Gold

Several institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in Centerra Gold by 57.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock valued at $84,739,000 after purchasing an additional 4,853,494 shares in the last quarter. Donald Smith & CO. Inc. boosted its position in Centerra Gold by 21.8% during the fourth quarter. Donald Smith & CO. Inc. now owns 14,158,116 shares of the company’s stock worth $203,452,000 after purchasing an additional 2,535,492 shares in the last quarter. FIL Ltd purchased a new stake in Centerra Gold during the fourth quarter worth $35,991,000. Millennium Management LLC grew its holdings in Centerra Gold by 828.0% in the third quarter. Millennium Management LLC now owns 2,372,671 shares of the company’s stock valued at $25,435,000 after purchasing an additional 2,116,991 shares during the last quarter. Finally, Verbena Value LP acquired a new stake in Centerra Gold in the fourth quarter valued at $23,153,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

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.