Shares of Centerra Gold Inc. (NYSE:CGAU – Get Free Report) have received a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $21.00.
A number of brokerages have recently issued reports on CGAU. Weiss Ratings upgraded Centerra Gold from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 31st. Scotiabank reaffirmed an “outperform” rating on shares of Centerra Gold in a research note on Tuesday, August 4th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Centerra Gold in a research report on Thursday, July 30th. Finally, Wall Street Zen lowered shares of Centerra Gold from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th.
Read Our Latest Report on CGAU
Centerra Gold Stock Down 2.5%
Centerra Gold (NYSE:CGAU – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. Centerra Gold had a return on equity of 15.35% and a net margin of 36.92%.The company had revenue of $442.71 million during the quarter, compared to analyst estimates of $394.27 million. Equities research analysts expect that Centerra Gold will post 1.63 earnings per share for the current fiscal year.
Centerra Gold Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were given a C$0.07 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.28 annualized dividend and a yield of 1.3%. Centerra Gold’s payout ratio is 6.39%.
Institutional Investors Weigh In On Centerra Gold
A number of large investors have recently added to or reduced their stakes in CGAU. Donald Smith & CO. Inc. bought a new position in shares of Centerra Gold during the 2nd quarter valued at about $245,004,000. Arrowstreet Capital Limited Partnership lifted its position in Centerra Gold by 0.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,314,250 shares of the company’s stock worth $147,899,000 after buying an additional 39,315 shares during the last quarter. Heartland Advisors Inc. grew its position in Centerra Gold by 0.7% during the first quarter. Heartland Advisors Inc. now owns 2,216,216 shares of the company’s stock valued at $39,426,000 after acquiring an additional 14,766 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Centerra Gold during the second quarter valued at approximately $37,142,000. Finally, Neumeier Poma Investment Counsel LLC purchased a new position in shares of Centerra Gold during the second quarter worth approximately $32,524,070. Hedge funds and other institutional investors own 55.40% of the company’s stock.
About Centerra Gold
Centerra Gold Inc is a Canadian-based, intermediate gold and copper producer headquartered in Toronto, Ontario. The company explores, develops and operates precious- and base-metal properties, with a focus on responsible mining and the production of gold and copper concentrates and doré.
Centerra’s principal operating assets include the Mount Milligan copper-gold mine in British Columbia, Canada, and the Öksüt gold mine in Türkiye. Mount Milligan produces copper and gold concentrate, while Öksüt is an open-pit, heap-leach operation that produces gold doré.
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