Centerra Gold (NYSE:CGAU) Shares Gap Up - Here's Why

Shares of Centerra Gold Inc. (NYSE:CGAU - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $5.52, but opened at $5.77. Centerra Gold shares last traded at $5.71, with a volume of 85,904 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. National Bankshares reissued an "outperform" rating on shares of Centerra Gold in a research report on Wednesday, April 2nd. Raymond James reiterated an "outperform" rating on shares of Centerra Gold in a research report on Friday, April 4th. Scotiabank raised their price target on shares of Centerra Gold from $9.00 to $11.00 and gave the company a "sector outperform" rating in a research note on Monday. Desjardins lowered Centerra Gold from a "moderate buy" rating to a "hold" rating in a research note on Thursday, February 13th. Finally, Cormark downgraded Centerra Gold from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $12.00.

Centerra Gold Trading Up 2.1 %

The stock's fifty day moving average price is $6.14 and its two-hundred day moving average price is $6.25. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 18.75 and a beta of 0.81.

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

Centerra Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from Centerra Gold's previous quarterly dividend of $0.05. Centerra Gold's payout ratio is 52.78%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vise Technologies Inc. acquired a new stake in Centerra Gold in the fourth quarter valued at $58,000. SG Americas Securities LLC purchased a new position in shares of Centerra Gold in the 4th quarter valued at about $59,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Centerra Gold in the fourth quarter valued at about $60,000. Susquehanna Advisors Group Inc. purchased a new stake in Centerra Gold during the fourth quarter worth about $61,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in Centerra Gold during the fourth quarter worth about $79,000. 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.