Centerra Gold (NYSE:CGAU) Upgraded to "Moderate Buy" at Desjardins

Centerra Gold (NYSE:CGAU - Get Free Report) was upgraded by investment analysts at Desjardins to a "moderate buy" rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

Other analysts also recently issued reports about the company. CIBC reaffirmed a "neutral" rating and set a $13.00 price objective (up from $11.00) on shares of Centerra Gold in a research note on Wednesday, July 10th. Cibc World Mkts lowered shares of Centerra Gold from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $11.00.

Centerra Gold Price Performance

Shares of NYSE CGAU traded down $0.56 during midday trading on Thursday, hitting $6.52. 1,642,666 shares of the company's stock were exchanged, compared to its average volume of 632,914. The firm's fifty day simple moving average is $7.09 and its 200-day simple moving average is $6.86. The company has a market cap of $1.38 billion, a PE ratio of 10.35 and a beta of 0.98. Centerra Gold has a twelve month low of $4.47 and a twelve month high of $7.82.

Centerra Gold (NYSE:CGAU - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.16 by $0.07. Centerra Gold had a net margin of 10.68% and a return on equity of 10.72%. The firm had revenue of $282.31 million for the quarter. During the same quarter in the prior year, the business earned ($0.20) earnings per share. Equities analysts anticipate that Centerra Gold will post 0.84 EPS for the current fiscal year.

Institutional Trading of Centerra Gold

Large investors have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC raised its holdings in Centerra Gold by 12.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company's stock valued at $96,000 after acquiring an additional 1,573 shares during the last quarter. Hsbc Holdings PLC increased its stake in Centerra Gold by 4.1% in the second quarter. Hsbc Holdings PLC now owns 48,101 shares of the company's stock valued at $325,000 after purchasing an additional 1,895 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Centerra Gold by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 178,489 shares of the company's stock worth $1,199,000 after buying an additional 2,120 shares during the period. TD Asset Management Inc boosted its stake in Centerra Gold by 0.7% in the 2nd quarter. TD Asset Management Inc now owns 587,062 shares of the company's stock worth $3,947,000 after buying an additional 4,356 shares during the last quarter. Finally, CWM LLC purchased a new stake in Centerra Gold in the 3rd quarter valued at about $57,000. Institutional investors and hedge funds own 55.40% of the company's stock.

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.