Centerra Gold (NYSE:CGAU) Announces Earnings Results, Beats Estimates By $0.10 EPS

Centerra Gold (NYSE:CGAU) announced its quarterly earnings data on Thursday. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.31 by $0.10, Zacks reports. Centerra Gold had a net margin of 26.35% and a return on equity of 10.47%.

Centerra Gold Stock Performance

NYSE CGAU traded up $0.23 during trading hours on Thursday, reaching $18.97. The stock had a trading volume of 1,445,901 shares, compared to its average volume of 2,156,036. Centerra Gold has a 52-week low of $5.41 and a 52-week high of $20.40. 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 stock has a market cap of $3.79 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 0.42 and a beta of 0.88. The stock has a fifty day moving average of $16.42 and a 200 day moving average of $12.48.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Scotiabank lifted their price objective on Centerra Gold from $13.50 to $19.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Wall Street Zen upgraded shares of Centerra Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Weiss Ratings restated a “buy (b)” rating on shares of Centerra Gold in a research report on Monday, December 29th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Centerra Gold in a report on Wednesday, February 4th. Finally, Zacks Research upgraded Centerra Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Centerra Gold currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Institutional Trading of Centerra Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers acquired a new stake in shares of Centerra Gold in the 4th quarter valued at $183,000. Entropy Technologies LP acquired a new stake in Centerra Gold in the fourth quarter valued at $241,000. Marex Group plc purchased a new position in shares of Centerra Gold in the 4th quarter valued at about $200,000. Voleon Capital Management LP acquired a new stake in shares of Centerra Gold during the 3rd quarter worth about $122,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in shares of Centerra Gold by 24.1% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 18,000 shares of the company’s stock valued at $193,000 after buying an additional 3,500 shares in the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

About Centerra Gold

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.