Centerra Gold (NYSE:CGAU) Cut to Hold at Cibc World Mkts

Cibc World Mkts lowered shares of Centerra Gold (NYSE:CGAU) from a strong-buy rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

Several other research analysts have also recently issued reports on the company. Scotiabank raised their target price on Centerra Gold from $8.00 to $9.00 and gave the stock a sector outperform rating in a research report on Thursday, May 23rd. CIBC reaffirmed a neutral rating and set a $13.00 price objective (up from $11.00) on shares of Centerra Gold in a research report on Wednesday. Finally, National Bank Financial reaffirmed an outperform overweight rating on shares of Centerra Gold in a research report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $9.80.

Centerra Gold Stock Performance

NYSE CGAU opened at $7.03 on Wednesday. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 26.02 and a beta of 0.98. The stock has a 50-day moving average of $6.85 and a 200 day moving average of $6.06. Centerra Gold has a one year low of $4.47 and a one year high of $7.51.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Tuesday, May 14th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $305.88 million during the quarter. Centerra Gold had a return on equity of 5.58% and a net margin of 4.99%. During the same quarter last year, the firm earned ($0.24) earnings per share. On average, equities analysts predict that Centerra Gold will post 0.78 earnings per share for the current fiscal year.

Centerra Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th were given a dividend of $0.051 per share. The ex-dividend date was Wednesday, May 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.90%. Centerra Gold’s payout ratio is currently 74.07%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Heron Bay Capital Management purchased a new position in Centerra Gold in the 4th quarter worth approximately $77,000. Dynamic Technology Lab Private Ltd purchased a new position in Centerra Gold in the 4th quarter worth approximately $98,000. Virtu Financial LLC purchased a new position in Centerra Gold in the 1st quarter worth approximately $113,000. Russell Investments Group Ltd. increased its stake in Centerra Gold by 943.8% in the 4th quarter. Russell Investments Group Ltd. now owns 65,020 shares of the company’s stock worth $390,000 after acquiring an additional 58,791 shares during the last quarter. Finally, Trexquant Investment LP increased its stake in Centerra Gold by 330.4% in the 4th quarter. Trexquant Investment LP now owns 67,298 shares of the company’s stock worth $401,000 after acquiring an additional 51,663 shares during the last quarter. 55.40% of the stock is owned by hedge funds and other institutional investors.

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.