Centerra Gold (NYSE:CGAU) Shares Up 4.6% - What's Next?

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) shares shot up 4.6% during mid-day trading on Tuesday . The stock traded as high as $6.48 and last traded at $6.38. 140,891 shares were traded during mid-day trading, a decline of 82% from the average session volume of 779,367 shares. The stock had previously closed at $6.10.

Analysts Set New Price Targets

CGAU has been the subject of a number of analyst reports. CIBC restated a "neutral" rating on shares of Centerra Gold in a research report on Thursday, March 20th. National Bank Financial raised shares of Centerra Gold to a "strong-buy" rating in a report on Friday, March 21st. Desjardins lowered Centerra Gold from a "moderate buy" rating to a "hold" rating in a report on Thursday, February 13th. Cormark cut Centerra Gold from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, Scotiabank reduced their price target on Centerra Gold from $10.00 to $9.00 and set a "sector outperform" rating for the company in a report on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $11.00.

Centerra Gold Price Performance

The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 17.63 and a beta of 0.92. The company's 50 day moving average is $6.17 and its 200 day moving average is $6.34.

Remove Ads

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

Centerra Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.07 dividend. This is a positive change from Centerra Gold's previous quarterly dividend of $0.05. The ex-dividend date was Thursday, March 13th. This represents a $0.28 annualized dividend and a yield of 4.41%. Centerra Gold's dividend payout ratio is 52.78%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vise Technologies Inc. acquired a new stake in Centerra Gold in the 4th quarter valued at about $58,000. SG Americas Securities LLC acquired a new position in shares of Centerra Gold during the 4th quarter worth approximately $59,000. Massachusetts Financial Services Co. MA purchased a new stake in Centerra Gold in the 4th quarter valued at approximately $60,000. Susquehanna Advisors Group Inc. acquired a new stake in Centerra Gold during the 4th quarter valued at $61,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Centerra Gold during the 4th quarter valued at $79,000. Hedge funds and other institutional investors own 55.40% of the company's stock.

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.