Centerra Gold (NYSE:CGAU) Stock Price Up 8.2% – What’s Next?

Shares of Centerra Gold Inc. (NYSE:CGAU) were up 8.2% during mid-day trading on Monday . The company traded as high as $19.37 and last traded at $19.09. Approximately 775,085 shares changed hands during trading, a decline of 60% from the average daily volume of 1,949,317 shares. The stock had previously closed at $17.64.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Scotiabank lifted their price target on Centerra Gold from $13.50 to $19.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Centerra Gold in a research report on Wednesday, February 4th. Wall Street Zen lowered shares of Centerra Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. BMO Capital Markets upgraded shares of Centerra Gold from a “hold” rating to an “outperform” rating in a report on Tuesday, January 20th. Finally, Zacks Research upgraded shares of Centerra Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given 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 $16.00.

Centerra Gold Stock Up 3.2%

The stock has a market capitalization of $3.64 billion, a PE ratio of 6.40, a P/E/G ratio of 0.89 and a beta of 0.83. The firm has a 50 day moving average of $18.03 and a two-hundred day moving average of $13.93. The company has a current ratio of 2.39, a quick ratio of 1.65 and a debt-to-equity ratio of 0.02.

Centerra Gold (NYSE:CGAU) last posted its earnings results on Thursday, February 19th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The company had revenue of $401.60 million for the quarter, compared to the consensus estimate of $355.39 million. Centerra Gold had a return on equity of 12.42% and a net margin of 42.18%. Equities research analysts anticipate that Centerra Gold Inc. will post 0.59 earnings per share for the current year.

Centerra Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be given a $0.07 dividend. The ex-dividend date is Thursday, March 12th. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. Centerra Gold’s payout ratio is currently 7.39%.

Hedge Funds Weigh In On Centerra Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its stake in shares of Centerra Gold by 32.7% during the 3rd quarter. American Century Companies Inc. now owns 5,379,277 shares of the company’s stock worth $57,631,000 after purchasing an additional 1,324,448 shares in the last quarter. TD Asset Management Inc lifted its stake in Centerra Gold by 12.2% in the 3rd quarter. TD Asset Management Inc now owns 1,489,163 shares of the company’s stock valued at $15,958,000 after buying an additional 161,542 shares in the last quarter. Waratah Capital Advisors Ltd. grew its holdings in Centerra Gold by 4.1% during the 3rd quarter. Waratah Capital Advisors Ltd. now owns 6,954,407 shares of the company’s stock valued at $74,621,000 after buying an additional 275,510 shares during the last quarter. Legal & General Group Plc increased its position in Centerra Gold by 25.1% during the second quarter. Legal & General Group Plc now owns 818,429 shares of the company’s stock worth $5,884,000 after buying an additional 164,238 shares in the last quarter. Finally, Intact Investment Management Inc. increased its position in Centerra Gold by 41.5% during the third quarter. Intact Investment Management Inc. now owns 567,900 shares of the company’s stock worth $6,085,000 after buying an additional 166,500 shares in the last quarter. Institutional investors and hedge funds 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.