Centerra Gold (NYSE:CGAU) Hits New 52-Week High – Time to Buy?

Centerra Gold Inc. (NYSE:CGAU)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $8.47 and last traded at $8.32, with a volume of 42784 shares traded. The stock had previously closed at $8.17.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CGAU shares. National Bankshares reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Tuesday, June 24th. BMO Capital Markets downgraded shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Centerra Gold from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Cibc World Mkts upgraded shares of Centerra Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 27th. Finally, CIBC reaffirmed an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.

Centerra Gold Stock Performance

The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 0.62 and a beta of 0.81. The company’s 50 day moving average is $7.32 and its 200 day moving average is $6.81.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.08. Centerra Gold had a net margin of 6.21% and a return on equity of 9.12%. The company had revenue of $288.30 million during the quarter, compared to analysts’ expectations of $319.42 million. On average, equities research analysts anticipate that Centerra Gold Inc. will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 3.3%. The ex-dividend date is Thursday, August 21st. Centerra Gold’s dividend payout ratio (DPR) is 60.61%.

Hedge Funds Weigh In On Centerra Gold

Several hedge funds and other institutional investors have recently made changes to their positions in CGAU. Farther Finance Advisors LLC bought a new position in Centerra Gold during the second quarter worth $27,000. Pinnacle Holdings LLC bought a new stake in shares of Centerra Gold during the first quarter worth about $39,000. Vise Technologies Inc. bought a new stake in Centerra Gold in the fourth quarter valued at approximately $58,000. Carrera Capital Advisors bought a new position in shares of Centerra Gold during the 2nd quarter worth approximately $81,000. Finally, Olympiad Research LP bought a new position in shares of Centerra Gold in the 2nd quarter worth $89,000. 55.40% of the stock is owned by institutional investors.

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.