Centerra Gold (NYSE:CGAU) Shares Cross Above 50-Day Moving Average – Here’s What Happened

Centerra Gold Inc. (NYSE:CGAU) passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $21.89 and traded as high as $23.06. Centerra Gold shares last traded at $23.0350, with a volume of 1,153,771 shares changing hands.

Analyst Upgrades and Downgrades

CGAU has been the topic of several research reports. Weiss Ratings upgraded shares of Centerra Gold from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, October 26th. Zacks Research cut shares of Centerra Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 6th. Wall Street Zen downgraded Centerra Gold from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Scotiabank reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Tuesday, August 4th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Friday, October 16th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Centerra Gold Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.07 and a quick ratio of 1.25. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 1.93 and a beta of 0.84. The company has a 50-day simple moving average of $21.89 and a two-hundred day simple moving average of $19.09.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.04. The company had revenue of $500.30 million during the quarter, compared to the consensus estimate of $440.83 million. Centerra Gold had a net margin of 23.67% and a return on equity of 15.10%. On average, equities research analysts predict that Centerra Gold Inc. will post 1.58 earnings per share for the current year.

Centerra Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Thursday, November 19th will be given a C$0.07 dividend. The ex-dividend date is Thursday, November 19th. This represents a $0.28 annualized dividend and a yield of 1.2%. Centerra Gold’s dividend payout ratio (DPR) is currently 9.30%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Donald Smith & CO. Inc. acquired a new stake in shares of Centerra Gold in the second quarter valued at approximately $245,004,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Centerra Gold by 0.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 8,314,250 shares of the company’s stock valued at $147,899,000 after buying an additional 39,315 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Centerra Gold during the second quarter worth approximately $37,142,000. Heartland Advisors Inc. boosted its position in shares of Centerra Gold by 0.7% during the first quarter. Heartland Advisors Inc. now owns 2,216,216 shares of the company’s stock worth $39,426,000 after buying an additional 14,766 shares during the period. Finally, Neumeier Poma Investment Counsel LLC acquired a new position in shares of Centerra Gold during the second quarter worth approximately $32,524,070. Institutional investors own 55.40% of the company’s stock.

About Centerra Gold

Centerra Gold Inc is a Canadian mining company that acquires, explores, develops, and operates mineral properties, with a focus on gold and copper. Its principal producing assets include the Mount Milligan copper-gold mine in British Columbia, Canada, and the Öksüt gold mine in Türkiye.

The company also owns the Thompson Creek molybdenum mine in Idaho, which is on care and maintenance, and the Langeloth metallurgical facility in Pennsylvania. These assets give Centerra exposure to both precious and industrial metals.

Founded in 2004 and headquartered in Toronto, Centerra formerly operated the Kumtor gold mine in the Kyrgyz Republic.