Centerra Gold (TSE:CG) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Centerra Gold Inc. (TSE:CG) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$22.90 and traded as high as C$23.76. Centerra Gold shares last traded at C$23.26, with a volume of 1,186,289 shares.

Analysts Set New Price Targets

CG has been the topic of several analyst reports. Desjardins increased their price target on shares of Centerra Gold from C$30.00 to C$33.00 and gave the stock a “hold” rating in a research note on Thursday, April 23rd. Royal Bank Of Canada increased their price target on shares of Centerra Gold from C$22.00 to C$31.00 in a research note on Thursday, March 12th. Finally, Canadian Imperial Bank of Commerce increased their price target on shares of Centerra Gold from C$30.00 to C$37.00 in a research note on Wednesday, February 4th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$27.36.

Centerra Gold Price Performance

The stock’s 50 day moving average price is C$24.65 and its two-hundred day moving average price is C$22.97. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.41 and a quick ratio of 3.24. The firm has a market capitalization of C$4.83 billion, a price-to-earnings ratio of 7.85, a PEG ratio of 1.26 and a beta of 1.86.

Centerra Gold (TSE:CG) last issued its quarterly earnings data on Wednesday, April 29th. The company reported C$0.61 earnings per share for the quarter. Centerra Gold had a net margin of 41.28% and a return on equity of 32.55%. The business had revenue of C$673.87 million during the quarter.

Centerra Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, June 4th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, May 21st. Centerra Gold’s payout ratio is presently 6.52%.

Insiders Place Their Bets

In other news, Director Eric Dell sold 1,220 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of C$22.92, for a total value of C$27,962.40. Also, Director Paul Nicholas Wright acquired 5,000 shares of Centerra Gold stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average price of C$22.31 per share, with a total value of C$111,550.00. Following the completion of the purchase, the director directly owned 130,000 shares of the company’s stock, valued at C$2,900,300. The trade was a 4.00% increase in their position. Insiders sold 10,252 shares of company stock valued at $235,442 over the last 90 days. 0.21% of the stock is owned by corporate insiders.

About Centerra Gold

Centerra Gold Inc is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. The Company also owns the Goldfield District Project in Nevada, United States, the Kemess Project in British Columbia, Canada, and owns and operates the Molybdenum Business Unit in the United States and Canada.