Centerra Gold Inc. (NYSE:CGAU) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Centerra Gold Inc. (NYSE:CGAU - Get Free Report) have earned an average rating of "Hold" from the five analysts that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $11.00.

A number of research analysts recently commented on CGAU shares. Scotiabank decreased their price objective on Centerra Gold from $10.00 to $9.00 and set a "sector outperform" rating on the stock in a report on Wednesday, January 15th. Cormark lowered Centerra Gold from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Finally, Desjardins downgraded Centerra Gold from a "moderate buy" rating to a "hold" rating in a research report on Thursday, February 13th.

Centerra Gold Stock Down 4.6 %

Shares of CGAU traded down $0.26 during midday trading on Friday, reaching $5.50. The company had a trading volume of 1,355,756 shares, compared to its average volume of 756,337. The firm has a 50 day simple moving average of $6.10 and a 200-day simple moving average of $6.43. The stock has a market cap of $1.16 billion, a PE ratio of 15.27 and a beta of 0.92. Centerra Gold has a 1-year low of $5.46 and a 1-year high of $7.82.

Centerra Gold (NYSE:CGAU - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.03). Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. The firm had revenue of $302.40 million for the quarter, compared to analyst estimates of $316.92 million. As a group, sell-side analysts anticipate that Centerra Gold will post 0.59 earnings per share for the current fiscal year.

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Centerra Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.07 dividend. The ex-dividend date is Thursday, March 13th. This is a boost from Centerra Gold's previous quarterly dividend of $0.05. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.09%. Centerra Gold's payout ratio is presently 52.78%.

Hedge Funds Weigh In On Centerra Gold

Hedge funds have recently bought and sold shares of the company. Versor Investments LP increased its stake in Centerra Gold by 40.9% during the third quarter. Versor Investments LP now owns 146,700 shares of the company's stock worth $1,053,000 after purchasing an additional 42,600 shares during the period. Plato Investment Management Ltd purchased a new stake in Centerra Gold during the 3rd quarter worth approximately $412,000. PCJ Investment Counsel Ltd. lifted its holdings in Centerra Gold by 59.6% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 434,628 shares of the company's stock worth $3,120,000 after buying an additional 162,382 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Centerra Gold by 36.5% in the 3rd 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 period. Finally, Bank of Montreal Can boosted its position in Centerra Gold by 59.0% in the 3rd quarter. Bank of Montreal Can now owns 3,869,035 shares of the company's stock valued at $28,690,000 after buying an additional 1,435,794 shares during the period. Institutional investors and hedge funds 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.