Centerra Gold (NYSE:CGAU) Sets New 12-Month High – Still a Buy?

Shares of Centerra Gold Inc. (NYSE:CGAU) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $22.30 and last traded at $21.74, with a volume of 1331170 shares. The stock had previously closed at $21.68.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CGAU shares. Scotiabank reaffirmed an “outperform” rating on shares of Centerra Gold in a research note on Tuesday, August 4th. Weiss Ratings downgraded Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Wall Street Zen lowered shares of Centerra Gold from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Centerra Gold in a report on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Centerra Gold presently has an average rating of “Moderate Buy” and a consensus price target of $17.50.

Centerra Gold Price Performance

The firm has a market cap of $4.26 billion, a PE ratio of 6.95, a PEG ratio of 0.81 and a beta of 0.80. The firm has a fifty day simple moving average of $16.82 and a two-hundred day simple moving average of $17.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.49 and a current ratio of 2.42.

Centerra Gold (NYSE:CGAU) last posted its earnings results on Tuesday, July 28th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $442.71 million during the quarter, compared to the consensus estimate of $394.27 million. Centerra Gold had a return on equity of 15.35% and a net margin of 36.92%. Equities analysts predict that Centerra Gold Inc. will post 1.63 EPS for the current fiscal year.

Centerra Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. Centerra Gold’s dividend payout ratio is presently 6.71%.

Hedge Funds Weigh In On Centerra Gold

Several institutional investors have recently bought and sold shares of CGAU. Pinnacle Holdings LLC bought a new position in shares of Centerra Gold in the 2nd quarter valued at about $45,000. Quantbot Technologies LP bought a new stake in Centerra Gold during the second quarter worth approximately $1,035,000. Heartland Advisors Inc. purchased a new stake in Centerra Gold during the second quarter valued at approximately $34,082,000. C M Bidwell & Associates Ltd. purchased a new stake in Centerra Gold during the second quarter valued at approximately $83,000. Finally, Donald Smith & CO. Inc. bought a new stake in shares of Centerra Gold in the 2nd quarter valued at approximately $245,004,000. Institutional investors own 55.40% of the company’s stock.

About Centerra Gold

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.