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

Shares of Centerra Gold Inc. (NYSE:CGAU) have earned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $11.00.

Separately, Desjardins raised shares of Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st.

Institutional Investors Weigh In On Centerra Gold

Hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its holdings in shares of Centerra Gold by 594.6% in the 2nd quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company’s stock worth $59,532,000 after acquiring an additional 7,586,370 shares during the period. Bank of Montreal Can increased its stake in shares of 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 purchasing an additional 1,493,349 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Centerra Gold by 36.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock valued at $31,514,000 after buying an additional 1,175,000 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Centerra Gold by 132.8% during the second quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock worth $12,345,000 after buying an additional 1,047,142 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Centerra Gold during the second quarter worth approximately $6,772,000. 55.40% of the stock is currently owned by institutional investors.

Centerra Gold Stock Performance

Shares of CGAU stock opened at $6.46 on Friday. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 13.54 and a beta of 0.98. Centerra Gold has a one year low of $4.47 and a one year high of $7.82. The company’s 50-day simple moving average is $7.02 and its 200-day simple moving average is $6.86.

Centerra Gold (NYSE:CGAU) last released its earnings results on Thursday, October 31st. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. The firm had revenue of $323.93 million for the quarter. During the same quarter in the previous year, the company posted $0.20 earnings per share. As a group, research analysts forecast that Centerra Gold will post 0.82 EPS for the current year.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.052 per share. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Wednesday, November 13th. Centerra Gold’s dividend payout ratio is presently 41.67%.

About Centerra Gold

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.