Centerra Gold (NYSE:CGAU) Trading Down 7.5% – Here’s Why

Centerra Gold Inc. (NYSE:CGAU)’s stock price was down 7.5% on Tuesday . The company traded as low as $18.42 and last traded at $18.4720. Approximately 1,492,885 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 2,131,974 shares. The stock had previously closed at $19.96.

Analysts Set New Price Targets

A number of analysts have weighed in on CGAU shares. BMO Capital Markets upgraded Centerra Gold from a “hold” rating to an “outperform” rating in a research report on Tuesday, January 20th. Wall Street Zen upgraded Centerra Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Centerra Gold in a research report on Friday, March 27th. Zacks Research cut Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Centerra Gold in a research note on Wednesday, February 4th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Centerra Gold presently has an average rating of “Moderate Buy” and a consensus price target of $16.67.

Centerra Gold Trading Down 1.5%

The company has a debt-to-equity ratio of 0.04, a current ratio of 2.39 and a quick ratio of 1.65. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 6.56, a price-to-earnings-growth ratio of 1.14 and a beta of 0.90. The business has a 50 day simple moving average of $18.54 and a 200 day simple moving average of $15.61.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data 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 analyst estimates of $355.39 million. Centerra Gold had a return on equity of 12.42% and a net margin of 42.18%. As a group, equities analysts forecast that Centerra Gold Inc. will post 1.72 EPS for the current year.

Centerra Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. Centerra Gold’s payout ratio is currently 7.04%.

Hedge Funds Weigh In On Centerra Gold

Institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. lifted its stake in shares of Centerra Gold by 32.7% during the third quarter. American Century Companies Inc. now owns 5,379,277 shares of the company’s stock valued at $57,631,000 after acquiring an additional 1,324,448 shares during the period. TD Asset Management Inc lifted its stake in Centerra Gold by 12.2% in the third 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 during the period. Waratah Capital Advisors Ltd. lifted its stake in Centerra Gold by 4.1% in the third 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 period. Quantbot Technologies LP lifted its stake in Centerra Gold by 194.2% in the third quarter. Quantbot Technologies LP now owns 345,831 shares of the company’s stock valued at $3,711,000 after buying an additional 228,264 shares during the period. Finally, Intact Investment Management Inc. lifted its stake in Centerra Gold by 41.5% in the third quarter. Intact Investment Management Inc. now owns 567,900 shares of the company’s stock valued at $6,085,000 after buying an additional 166,500 shares during the period. 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.