Centerra Gold (TSE:CG) Shares Break Above 50-Day Moving Average – Time to Sell?

Shares of Centerra Gold Inc. (TSE:CG) passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of C$30.76 and traded as high as C$31.08. Centerra Gold shares last traded at C$30.81, with a volume of 673,959 shares.

Analyst Ratings Changes

CG has been the subject of a number of research reports. Raymond James Financial upped their price objective on Centerra Gold from C$28.00 to C$29.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. TD increased their target price on Centerra Gold from C$31.00 to C$32.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce raised their target price on Centerra Gold from C$37.00 to C$38.00 in a research report on Thursday, July 30th. ATB Cormark Capital Markets boosted their price target on Centerra Gold from C$26.00 to C$27.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Finally, Desjardins reduced their price target on shares of Centerra Gold from C$34.00 to C$33.00 and set a “hold” rating for the company in a research report on Thursday, October 22nd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Centerra Gold has a consensus rating of “Hold” and an average target price of C$31.43.

Centerra Gold Trading Up 3.1%

The company has a market capitalization of C$5.96 billion, a P/E ratio of 14.20, a PEG ratio of 1.26 and a beta of 1.79. The company has a debt-to-equity ratio of 1.94, a quick ratio of 3.24 and a current ratio of 2.07. The stock has a fifty day moving average of C$30.76 and a 200 day moving average of C$26.48.

Centerra Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Wednesday, December 2nd will be given a $0.07 dividend. The ex-dividend date is Thursday, November 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.9%. Centerra Gold’s dividend payout ratio is presently 9.28%.

Insider Activity

In related news, insider Yousef Rehman sold 57,636 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of C$33.50, for a total transaction of C$1,930,806.00. Following the completion of the transaction, the insider directly owned 77,918 shares in the company, valued at approximately C$2,610,253. The trade was a 42.52% decrease in their position. Also, Director Wendy Wai Ting Kei acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average price of C$29.76 per share, with a total value of C$29,760.00. Following the completion of the purchase, the director owned 5,172 shares in the company, valued at C$153,918.72. This trade represents a 23.97% increase in their position. 0.21% of the stock is owned by company 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 Kemess Project in British Columbia, Canada, the Goldfield Project in Nevada, United States, and owns and operates the Molybdenum Business Unit in the United States and Canada.