Centerra Gold Inc. (NYSE:CGAU) Given Consensus Rating of “Moderate Buy” by Brokerages

Centerra Gold Inc. (NYSE:CGAU) has received an average recommendation of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $11.00.

CGAU has been the subject of several recent analyst reports. Cibc World Mkts downgraded Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. CIBC reiterated a “neutral” rating and issued a $13.00 price target (up previously from $11.00) on shares of Centerra Gold in a research note on Wednesday, July 10th.

Centerra Gold Stock Performance

NYSE CGAU opened at $7.11 on Monday. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 11.29 and a beta of 0.98. The business has a 50 day simple moving average of $6.98 and a 200 day simple moving average of $6.72. Centerra Gold has a 52-week low of $4.47 and a 52-week high of $7.82.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.07. Centerra Gold had a net margin of 10.68% and a return on equity of 10.72%. The company had revenue of $282.31 million for the quarter. During the same quarter last year, the business earned ($0.20) earnings per share. On average, analysts predict that Centerra Gold will post 0.84 EPS for the current year.

Centerra Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.051 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.20 dividend on an annualized basis and a yield of 2.87%. Centerra Gold’s dividend payout ratio (DPR) is 31.75%.

Institutional Investors Weigh In On Centerra Gold

A number of institutional investors have recently made changes to their positions in CGAU. Acadian Asset Management LLC lifted its position in Centerra Gold by 594.6% during the second quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company’s stock worth $59,532,000 after purchasing an additional 7,586,370 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Centerra Gold by 7.6% during the 1st quarter. Van ECK Associates Corp now owns 22,034,754 shares of the company’s stock worth $130,191,000 after acquiring an additional 1,552,601 shares during the period. Bank of Montreal Can increased its stake in Centerra Gold by 158.9% in the second quarter. Bank of Montreal Can now owns 2,433,241 shares of the company’s stock valued at $16,881,000 after acquiring an additional 1,493,349 shares during the last quarter. American Century Companies Inc. increased its stake in Centerra Gold by 132.8% in the second quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock valued at $12,345,000 after acquiring an additional 1,047,142 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Centerra Gold during the 2nd quarter worth $6,772,000. Institutional investors own 55.40% of the company’s stock.

Centerra Gold Company Profile

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.