Centerra Gold (NYSE:CGAU) Downgraded to “Buy” Rating by Wall Street Zen

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

Several other research firms have also recently issued reports on CGAU. Zacks Research raised Centerra Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Centerra Gold in a report on Monday, December 29th. Scotiabank raised their price objective on Centerra Gold from $13.50 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Centerra Gold in a report on Wednesday, February 4th. Finally, BMO Capital Markets raised shares of Centerra Gold from a “hold” rating to an “outperform” rating in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Centerra Gold Stock Performance

NYSE:CGAU opened at $21.07 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.65. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 7.42, a PEG ratio of 0.45 and a beta of 0.88. The company’s 50-day moving average is $17.16 and its two-hundred day moving average is $13.03. Centerra Gold has a 1-year low of $5.41 and a 1-year high of $21.11.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The business had revenue of $401.60 million during the quarter, compared to the consensus estimate of $355.39 million. Centerra Gold had a net margin of 42.18% and a return on equity of 12.42%. Analysts forecast that Centerra Gold will post 0.59 EPS for the current year.

Hedge Funds Weigh In On Centerra Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. increased its position in shares of 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 acquiring an additional 2,535,492 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Centerra Gold by 57.2% in the first 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 during the period. Acadian Asset Management LLC grew 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 purchasing an additional 1,761,904 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Centerra Gold by 7.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,274,935 shares of the company’s stock worth $119,058,000 after purchasing an additional 549,491 shares during the period. Finally, Waratah Capital Advisors Ltd. increased its holdings in Centerra Gold by 4.1% during the 3rd quarter. Waratah Capital Advisors Ltd. now owns 6,954,407 shares of the company’s stock worth $74,621,000 after purchasing an additional 275,510 shares during the period. 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.