Centerra Gold (NYSE:CGAU) Upgraded by Desjardins to “Moderate Buy” Rating

Desjardins upgraded shares of Centerra Gold (NYSE:CGAU) to a moderate buy rating in a research note published on Thursday morning, Zacks.com reports.

Other analysts have also recently issued research reports about the company. Cibc World Mkts cut Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. CIBC reissued a “neutral” rating and issued a $13.00 price objective (up previously from $11.00) on shares of Centerra Gold in a research report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Centerra Gold presently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Centerra Gold Stock Down 7.9 %

Shares of NYSE:CGAU traded down $0.56 during midday trading on Thursday, reaching $6.52. The company’s stock had a trading volume of 1,642,666 shares, compared to its average volume of 632,914. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 10.35 and a beta of 0.98. The business has a 50 day moving average price of $7.09 and a 200 day moving average price of $6.85. Centerra Gold has a 1 year low of $4.47 and a 1 year high of $7.82.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.16 by $0.07. Centerra Gold had a return on equity of 10.72% and a net margin of 10.68%. The company had revenue of $282.31 million during the quarter. During the same quarter last year, the firm earned ($0.20) EPS. Sell-side analysts anticipate that Centerra Gold will post 0.84 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.052 dividend. The ex-dividend date is Wednesday, November 13th. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 annualized dividend and a dividend yield of 3.19%. Centerra Gold’s dividend payout ratio is 31.75%.

Institutional Investors Weigh In On Centerra Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Centerra Gold by 12.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock valued at $96,000 after buying an additional 1,573 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Centerra Gold by 4.1% during the 2nd quarter. Hsbc Holdings PLC now owns 48,101 shares of the company’s stock worth $325,000 after acquiring an additional 1,895 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Centerra Gold by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 178,489 shares of the company’s stock valued at $1,199,000 after purchasing an additional 2,120 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Centerra Gold by 0.7% during the second quarter. TD Asset Management Inc now owns 587,062 shares of the company’s stock worth $3,947,000 after purchasing an additional 4,356 shares during the last quarter. Finally, CWM LLC acquired a new position in Centerra Gold in the third quarter worth about $57,000. Hedge funds and other 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.