Centerra Gold (NYSE:CGAU) Sets New 52-Week High – What’s Next?

Centerra Gold Inc. (NYSE:CGAU) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $15.47 and last traded at $15.3070, with a volume of 591270 shares. The stock had previously closed at $14.77.

Wall Street Analyst Weigh In

CGAU has been the topic of several research reports. Royal Bank Of Canada cut shares of Centerra Gold from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $13.00 to $14.00 in a research report on Wednesday, September 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Centerra Gold in a research note on Monday, December 29th. BMO Capital Markets restated a “market perform” rating on shares of Centerra Gold in a report on Monday, September 15th. Cormark raised shares of Centerra Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, October 30th. Finally, Zacks Research lowered Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.17.

Centerra Gold Stock Up 0.0%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.10 and a current ratio of 2.89. The company’s fifty day moving average price is $13.30 and its 200-day moving average price is $10.33. The stock has a market cap of $3.12 billion, a P/E ratio of 9.43, a price-to-earnings-growth ratio of 0.44 and a beta of 0.87.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. Centerra Gold had a net margin of 26.35% and a return on equity of 10.47%. The company had revenue of $395.20 million for the quarter, compared to analyst estimates of $314.74 million. Equities analysts forecast that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were issued a dividend of $0.07 per share. The ex-dividend date was Thursday, November 13th. This represents a $0.28 dividend on an annualized basis and a yield of 1.8%. Centerra Gold’s payout ratio is presently 12.20%.

Institutional Trading of Centerra Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Burkett Financial Services LLC lifted its position in shares of Centerra Gold by 27.5% during the fourth quarter. Burkett Financial Services LLC now owns 3,569 shares of the company’s stock worth $51,000 after purchasing an additional 769 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Centerra Gold by 146.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,367,172 shares of the company’s stock worth $14,670,000 after buying an additional 811,803 shares during the period. Polar Asset Management Partners Inc. bought a new stake in Centerra Gold during the 3rd quarter valued at about $2,036,000. Voleon Capital Management LP bought a new stake in Centerra Gold during the 3rd quarter valued at about $122,000. Finally, Verition Fund Management LLC purchased a new stake in Centerra Gold in the 3rd quarter valued at about $968,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Centerra Gold Company Profile

Centerra Gold Inc is a gold mining company incorporated in Canada and headquartered in Toronto. The company specializes in the exploration, development and operation of precious metals properties, with a focus on gold production. Centerra’s portfolio includes the Mount Milligan mine in British Columbia, Canada, and the Otjikoto mine in Namibia. Both operations produce gold and copper concentrates and employ modern mining methods and processing facilities to optimize recovery rates and minimize environmental impact.

In addition to its producing assets, Centerra is advancing the development of its Greenstone Gold Project in Ontario, Canada, which, upon completion, is expected to become one of Canada’s largest gold mines.