Centerra Gold Inc. (NYSE:CGAU) Given Average Recommendation of "Moderate Buy" by Brokerages

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) has received an average rating of "Moderate Buy" from the five analysts that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $11.00.

Separately, Desjardins upgraded shares of Centerra Gold to a "moderate buy" rating in a research note on Thursday, October 31st.

Centerra Gold Stock Performance

CGAU stock traded up $0.09 during trading on Wednesday, reaching $6.00. 274,213 shares of the company traded hands, compared to its average volume of 657,881. Centerra Gold has a 12 month low of $4.47 and a 12 month high of $7.82. The business has a 50 day simple moving average of $6.86 and a 200 day simple moving average of $6.85. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 12.31 and a beta of 0.98.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its quarterly 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 period in the prior year, the company posted $0.20 earnings per share. As a group, research analysts forecast that Centerra Gold will post 0.81 EPS for the current year.

Centerra Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.052 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.21 dividend on an annualized basis and a yield of 3.47%. This is an increase from Centerra Gold's previous quarterly dividend of $0.05. Centerra Gold's dividend payout ratio is presently 43.75%.

Institutional Trading of Centerra Gold

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC grew its position in shares of Centerra Gold by 284.5% during the third quarter. Barclays PLC now owns 74,930 shares of the company's stock worth $537,000 after acquiring an additional 55,444 shares during the last quarter. Toronto Dominion Bank grew its holdings in Centerra Gold by 22.8% in the 3rd quarter. Toronto Dominion Bank now owns 33,921 shares of the company's stock valued at $243,000 after buying an additional 6,307 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Centerra Gold by 378.7% in the third quarter. Geode Capital Management LLC now owns 454,939 shares of the company's stock valued at $4,152,000 after acquiring an additional 359,905 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Centerra Gold during the third quarter valued at $4,454,000. Finally, Y Intercept Hong Kong Ltd increased its holdings in Centerra Gold by 34.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 119,123 shares of the company's stock valued at $853,000 after purchasing an additional 30,264 shares during the last quarter. 55.40% of the stock is currently owned by institutional investors and hedge funds.

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.