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 report issued on Wednesday morning, Zacks.com reports.

Several other research firms have also recently issued reports on CGAU. 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 note on Thursday, May 23rd. CIBC reissued a neutral rating and set a $13.00 target price (up previously from $11.00) on shares of Centerra Gold in a research note on Wednesday. Finally, National Bank Financial reissued an outperform overweight rating on shares of Centerra Gold in a research note on Monday, April 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Centerra Gold has an average rating of Moderate Buy and a consensus target price of $9.80.

Centerra Gold Stock Performance

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

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

Centerra Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th were paid a $0.051 dividend. The ex-dividend date of this dividend 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 presently 74.07%.

Institutional Investors Weigh In On Centerra Gold

Institutional investors have recently modified their holdings of the company. Heron Bay Capital Management acquired a new stake in shares of Centerra Gold in the fourth quarter valued at $77,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Centerra Gold in the fourth quarter valued at $98,000. Virtu Financial LLC purchased a new position in Centerra Gold in the first quarter valued at $113,000. Russell Investments Group Ltd. boosted its holdings in Centerra Gold by 943.8% in the fourth quarter. Russell Investments Group Ltd. now owns 65,020 shares of the company’s stock valued at $390,000 after purchasing an additional 58,791 shares during the period. Finally, Trexquant Investment LP boosted its holdings in Centerra Gold by 330.4% in the fourth quarter. Trexquant Investment LP now owns 67,298 shares of the company’s stock valued at $401,000 after purchasing an additional 51,663 shares during the period. 55.40% of the stock is owned by institutional investors and hedge funds.

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.