Centerra Gold (NYSE:CGAU) Upgraded at Zacks Research

Zacks Research upgraded shares of Centerra Gold (NYSE:CGAU) from a hold rating to a strong-buy rating in a research report released on Wednesday,Zacks.com reports.

CGAU has been the subject of a number of other reports. Raymond James Financial restated a “market perform” rating on shares of Centerra Gold in a research note on Thursday, October 30th. Scotiabank boosted their target price on shares of Centerra Gold from $13.50 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Weiss Ratings restated a “buy (b)” rating on shares of Centerra Gold in a report on Monday, December 29th. Cormark raised Centerra Gold from a “hold” rating to a “moderate buy” rating in a research report on Thursday, October 30th. Finally, BMO Capital Markets raised Centerra Gold from a “hold” rating to an “outperform” rating in a research report on Tuesday, January 20th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Centerra Gold Stock Up 5.3%

CGAU opened at $17.33 on Wednesday. The firm has a market cap of $3.46 billion, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 0.36 and a beta of 0.88. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.10 and a current ratio of 2.89. The business has a 50 day moving average price of $15.54 and a 200 day moving average price of $11.80. Centerra Gold has a twelve month low of $5.41 and a twelve month high of $20.40.

Institutional Investors Weigh In On Centerra Gold

Hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc lifted its position in Centerra Gold by 25.1% in the second quarter. Legal & General Group Plc now owns 818,429 shares of the company’s stock worth $5,884,000 after purchasing an additional 164,238 shares during the period. Intact Investment Management Inc. raised its stake in shares of Centerra Gold by 41.5% in the 3rd quarter. Intact Investment Management Inc. now owns 567,900 shares of the company’s stock valued at $6,085,000 after buying an additional 166,500 shares in the last quarter. Accordant Advisory Group Inc bought a new position in shares of Centerra Gold during the 3rd quarter worth about $2,039,000. Virtus Advisers LLC bought a new position in shares of Centerra Gold during the 2nd quarter worth about $3,484,000. Finally, American Century Companies Inc. boosted its position in shares of Centerra Gold by 12.1% during the 2nd quarter. American Century Companies Inc. now owns 4,054,829 shares of the company’s stock valued at $29,211,000 after acquiring an additional 436,175 shares in the last quarter. 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.