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

Centerra Gold (NYSE:CGAU) was upgraded by Desjardins to a “moderate buy” rating in a note issued to investors on Thursday, Zacks.com reports.

A number of other brokerages also recently commented on CGAU. CIBC reaffirmed a “neutral” rating and set a $13.00 price objective (up from $11.00) on shares of Centerra Gold in a research report on Wednesday, July 10th. Cibc World Mkts cut shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Centerra Gold currently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Centerra Gold Stock Performance

Shares of CGAU opened at $6.52 on Thursday. The company’s 50 day moving average price is $7.09 and its 200 day moving average price is $6.85. Centerra Gold has a 52 week low of $4.47 and a 52 week high of $7.82. The company has a market capitalization of $1.38 billion, a PE ratio of 10.35 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm posted ($0.20) earnings per share. On average, equities analysts forecast that Centerra Gold will post 0.84 earnings per share for the current fiscal year.

Institutional Trading of Centerra Gold

Institutional investors have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. boosted its holdings in shares of Centerra Gold by 8.8% during the 1st quarter. Donald Smith & CO. Inc. now owns 10,747,290 shares of the company’s stock worth $63,516,000 after buying an additional 867,334 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Centerra Gold by 594.6% during the 2nd quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company’s stock worth $59,532,000 after buying an additional 7,586,370 shares during the period. Edmond DE Rothschild Holding S.A. boosted its holdings in shares of Centerra Gold by 10.9% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,949,795 shares of the company’s stock worth $17,425,000 after buying an additional 289,795 shares during the period. Bank of Montreal Can boosted its holdings in shares of Centerra Gold by 158.9% during the 2nd quarter. Bank of Montreal Can now owns 2,433,241 shares of the company’s stock worth $16,881,000 after buying an additional 1,493,349 shares during the period. Finally, Heartland Advisors Inc. boosted its holdings in shares of Centerra Gold by 2.8% during the 1st quarter. Heartland Advisors Inc. now owns 2,256,800 shares of the company’s stock worth $13,338,000 after buying an additional 62,300 shares during the period. 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.