Centerra Gold (NYSE:CGAU) Shares Gap Up – Should You Buy?

Centerra Gold Inc. (NYSE:CGAU) gapped up prior to trading on Monday . The stock had previously closed at $6.49, but opened at $6.62. Centerra Gold shares last traded at $6.58, with a volume of 30,684 shares trading hands.

Analyst Upgrades and Downgrades

CGAU has been the subject of a number of analyst reports. Raymond James reaffirmed an “outperform” rating on shares of Centerra Gold in a research note on Friday, April 4th. Desjardins cut shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 13th. National Bankshares reissued an “outperform” rating on shares of Centerra Gold in a research report on Wednesday, April 23rd. Cormark cut Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, National Bank Financial upgraded Centerra Gold to a “strong-buy” rating in a research note on Friday, March 21st. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Centerra Gold Price Performance

The firm’s fifty day moving average is $6.46 and its two-hundred day moving average is $6.18. The firm has a market capitalization of $1.41 billion, a PE ratio of 18.69 and a beta of 0.80.

Centerra Gold (NYSE:CGAU) last issued 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 company had revenue of $299.50 million for the quarter, compared to the consensus estimate of $288.25 million. As a group, equities research analysts predict that Centerra Gold Inc. will post 0.59 EPS for the current fiscal year.

Centerra Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Thursday, May 22nd. Centerra Gold’s dividend payout ratio (DPR) is presently 100.00%.

Institutional Investors Weigh In On Centerra Gold

Several institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new stake in shares of Centerra Gold in the fourth quarter worth $268,000. American Century Companies Inc. raised its position in Centerra Gold by 34.1% in the 4th quarter. American Century Companies Inc. now owns 3,291,860 shares of the company’s stock worth $18,733,000 after purchasing an additional 836,777 shares during the period. Ritholtz Wealth Management increased its holdings in shares of Centerra Gold by 285.2% in the fourth quarter. Ritholtz Wealth Management now owns 97,025 shares of the company’s stock worth $552,000 after buying an additional 71,835 shares during the period. Atria Wealth Solutions Inc. increased its stake in Centerra Gold by 11.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 50,000 shares of the company’s stock worth $284,000 after purchasing an additional 5,000 shares during the period. Finally, Amundi increased its position in shares of Centerra Gold by 168.6% in the fourth quarter. Amundi now owns 2,628,623 shares of the company’s stock valued at $15,377,000 after acquiring an additional 1,650,160 shares during the period. 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.