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

Shares of Centerra Gold Inc. (NYSE:CGAU - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the four research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $11.00.

CGAU has been the subject of several recent research reports. Scotiabank decreased their price target on shares of Centerra Gold from $10.00 to $9.00 and set a "sector outperform" rating for the company in a research report on Wednesday. Desjardins upgraded Centerra Gold to a "moderate buy" rating in a report on Thursday, October 31st.

Centerra Gold Price Performance

Shares of CGAU stock traded up $0.06 on Thursday, hitting $5.87. The stock had a trading volume of 846,914 shares, compared to its average volume of 713,271. The company's 50 day moving average price is $5.91 and its 200-day moving average price is $6.58. Centerra Gold has a 1 year low of $4.47 and a 1 year high of $7.82. The firm has a market capitalization of $1.23 billion, a P/E ratio of 12.22 and a beta of 0.90.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $323.93 million for the quarter. Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. During the same quarter in the previous year, the company earned $0.20 earnings per share. On average, equities analysts forecast that Centerra Gold will post 0.77 EPS for the current year.

Centerra Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a dividend of $0.052 per share. This represents a $0.21 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Wednesday, November 13th. This is a boost from Centerra Gold's previous quarterly dividend of $0.05. Centerra Gold's payout ratio is 45.83%.

Institutional Investors Weigh In On Centerra Gold

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC grew its stake in shares of Centerra Gold by 12.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company's stock worth $96,000 after purchasing an additional 1,573 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of 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 boosted its position in shares of Centerra Gold by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 178,489 shares of the company's stock worth $1,199,000 after acquiring an additional 2,120 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Centerra Gold by 8.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,308 shares of the company's stock valued at $419,000 after acquiring an additional 4,373 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in shares of Centerra Gold by 22.8% during the 3rd quarter. Toronto Dominion Bank now owns 33,921 shares of the company's stock worth $243,000 after acquiring an additional 6,307 shares in 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.