Centerra Gold (NYSE:CGAU) Reaches New 1-Year High – Time to Buy?

Shares of Centerra Gold Inc. (NYSE:CGAU) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $10.75 and last traded at $10.73, with a volume of 1998408 shares trading hands. The stock had previously closed at $10.40.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CGAU. National Bankshares restated an “outperform” rating on shares of Centerra Gold in a report on Tuesday, June 24th. BMO Capital Markets restated a “market perform” rating on shares of Centerra Gold in a report on Monday, September 15th. Wall Street Zen lowered shares of Centerra Gold from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Scotiabank cut their price target on shares of Centerra Gold from $12.00 to $9.50 and set a “sector outperform” rating on the stock in a report on Tuesday, September 16th. Finally, Royal Bank Of Canada lowered shares of Centerra Gold from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $13.00 to $14.00 in a report on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $12.83.

Centerra Gold Stock Performance

The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 32.50, a price-to-earnings-growth ratio of 3.17 and a beta of 0.82. The company’s 50 day simple moving average is $8.19 and its two-hundred day simple moving average is $7.30.

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

Centerra Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.6%. The ex-dividend date was Thursday, August 21st. Centerra Gold’s dividend payout ratio is currently 60.61%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CGAU. Osaic Holdings Inc. increased its stake in shares of Centerra Gold by 63.0% during the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock worth $34,000 after purchasing an additional 1,839 shares during the last quarter. CWM LLC increased its stake in shares of Centerra Gold by 15.6% during the 2nd quarter. CWM LLC now owns 14,480 shares of the company’s stock worth $104,000 after purchasing an additional 1,955 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Centerra Gold by 0.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 702,035 shares of the company’s stock worth $5,045,000 after purchasing an additional 2,047 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Centerra Gold by 4.7% during the 1st quarter. Hsbc Holdings PLC now owns 55,268 shares of the company’s stock worth $351,000 after purchasing an additional 2,499 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. increased its stake in shares of Centerra Gold by 16.2% during the 2nd quarter. Northwest & Ethical Investments L.P. now owns 22,648 shares of the company’s stock worth $163,000 after purchasing an additional 3,160 shares during the last quarter. Institutional investors and hedge funds 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.