Centerra Gold (NYSE:CGAU) Stock Price Down 2.3% - Here's Why

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) fell 2.3% during mid-day trading on Tuesday . The company traded as low as $6.94 and last traded at $6.87. 275,008 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 843,429 shares. The stock had previously closed at $7.03.

Analyst Ratings Changes

Several research firms recently issued reports on CGAU. Scotiabank reissued an "outperform" rating on shares of Centerra Gold in a research report on Monday, April 14th. Cormark downgraded Centerra Gold from a "moderate buy" rating to a "hold" rating in a report on Wednesday, February 26th. Raymond James reiterated an "outperform" rating on shares of Centerra Gold in a report on Friday, April 4th. CIBC reiterated a "neutral" rating on shares of Centerra Gold in a research note on Thursday, March 20th. Finally, Desjardins lowered Centerra Gold from a "moderate buy" rating to a "hold" rating in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $12.00.

Centerra Gold Stock Performance

The company has a market cap of $1.40 billion, a price-to-earnings ratio of 18.51 and a beta of 0.81. The business has a 50-day simple moving average of $6.18 and a 200-day simple moving average of $6.24.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). The business had revenue of $302.40 million for the quarter, compared to analyst estimates of $316.92 million. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. Research analysts anticipate that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 4.20%. The ex-dividend date was Thursday, March 13th. This is an increase from Centerra Gold's previous quarterly dividend of $0.05. Centerra Gold's dividend payout ratio is currently 52.78%.

Institutional Trading of Centerra Gold

A number of large investors have recently made changes to their positions in the company. Donald Smith & CO. Inc. grew its stake in shares of Centerra Gold by 30.1% in the 4th quarter. Donald Smith & CO. Inc. now owns 8,723,060 shares of the company's stock valued at $49,634,000 after purchasing an additional 2,017,756 shares during the last quarter. Amundi boosted its holdings in Centerra Gold by 168.6% in the 4th quarter. Amundi now owns 2,628,623 shares of the company's stock valued at $15,377,000 after purchasing an additional 1,650,160 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Centerra Gold by 24.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,808,773 shares of the company's stock worth $33,028,000 after purchasing an additional 1,126,825 shares during the period. Man Group plc lifted its holdings in shares of Centerra Gold by 43.2% in the 4th quarter. Man Group plc now owns 3,038,739 shares of the company's stock valued at $17,283,000 after buying an additional 916,255 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Centerra Gold by 34.1% in the fourth quarter. American Century Companies Inc. now owns 3,291,860 shares of the company's stock valued at $18,733,000 after buying an additional 836,777 shares in the last quarter. 55.40% of the stock is 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.