Centerra Gold (NYSE:CGAU) Shares Gap Down – Here’s What Happened

Shares of Centerra Gold Inc. (NYSE:CGAU) gapped down prior to trading on Monday . The stock had previously closed at $7.28, but opened at $6.95. Centerra Gold shares last traded at $6.86, with a volume of 93,501 shares traded.

Analyst Ratings Changes

Several analysts have commented on the stock. Desjardins cut shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 13th. Cormark cut shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, February 26th. CIBC reaffirmed a “neutral” rating on shares of Centerra Gold in a research note on Thursday, March 20th. National Bankshares reaffirmed an “outperform” rating on shares of Centerra Gold in a research note on Wednesday, April 23rd. Finally, National Bank Financial raised shares of Centerra Gold to a “strong-buy” rating in a research note on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Centerra Gold presently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Centerra Gold Trading Down 8.6%

The company’s 50 day moving average price is $6.34 and its 200-day moving average price is $6.20. The company has a market capitalization of $1.40 billion, a PE ratio of 18.49 and a beta of 0.80.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. The firm had revenue of $299.50 million during the quarter, compared to analysts’ expectations of $288.25 million. As a group, analysts predict that Centerra Gold Inc. will post 0.59 earnings per share for the current year.

Centerra Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, May 22nd. This represents a $0.28 dividend on an annualized basis and a yield of 4.21%. Centerra Gold’s dividend payout ratio (DPR) is 100.00%.

Institutional Trading of Centerra Gold

Institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in Centerra Gold in the 4th quarter worth $268,000. Barclays PLC lifted its position in shares of Centerra Gold by 284.5% during the third quarter. Barclays PLC now owns 74,930 shares of the company’s stock worth $537,000 after purchasing an additional 55,444 shares during the last quarter. American Century Companies Inc. raised its stake in Centerra Gold by 34.1% during the fourth quarter. American Century Companies Inc. now owns 3,291,860 shares of the company’s stock worth $18,733,000 after acquiring an additional 836,777 shares during the period. Ritholtz Wealth Management raised its stake in Centerra Gold by 285.2% during the fourth quarter. Ritholtz Wealth Management now owns 97,025 shares of the company’s stock worth $552,000 after acquiring an additional 71,835 shares during the period. Finally, Atria Wealth Solutions Inc. raised its stake in Centerra Gold by 11.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 50,000 shares of the company’s stock worth $284,000 after acquiring an additional 5,000 shares during the period. 55.40% of the stock is owned by hedge funds and other institutional investors.

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.