Centerra Gold (NYSE:CGAU) Shares Down 3.2% on Analyst Downgrade

Shares of Centerra Gold Inc. (NYSE:CGAU - Get Free Report) fell 3.2% on Wednesday after Scotiabank lowered their price target on the stock from $10.00 to $9.00. Scotiabank currently has a sector outperform rating on the stock. Centerra Gold traded as low as $5.79 and last traded at $5.82. 142,979 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 615,769 shares. The stock had previously closed at $6.01.

Separately, Desjardins upgraded Centerra Gold to a "moderate buy" rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Centerra Gold has a consensus rating of "Moderate Buy" and a consensus price target of $11.00.

Institutional Investors Weigh In On Centerra Gold

Large investors have recently modified their holdings of the stock. CWM LLC purchased a new stake in shares of Centerra Gold during the third quarter worth approximately $57,000. Capstone Investment Advisors LLC purchased a new stake in shares of Centerra Gold during the third quarter worth approximately $89,000. Vanguard Personalized Indexing Management LLC raised its stake in shares of Centerra Gold by 12.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company's stock worth $96,000 after purchasing an additional 1,573 shares during the last quarter. HighTower Advisors LLC purchased a new position in Centerra Gold in the third quarter worth $127,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Centerra Gold in the second quarter worth $131,000. Hedge funds and other institutional investors own 55.40% of the company's stock.

Centerra Gold Price Performance

The company has a 50-day simple moving average of $5.92 and a 200-day simple moving average of $6.58. The stock has a market cap of $1.22 billion, a PE ratio of 12.13 and a beta of 0.90.

Centerra Gold (NYSE:CGAU - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $323.93 million during the quarter. Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. During the same period last year, the firm earned $0.20 EPS. On average, equities analysts expect that Centerra Gold Inc. will post 0.79 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.052 dividend. This is a boost from Centerra Gold's previous quarterly dividend of $0.05. The ex-dividend date was Wednesday, November 13th. This represents a $0.21 annualized dividend and a yield of 3.57%. Centerra Gold's dividend payout ratio is presently 43.75%.

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.