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

Centerra Gold Inc. (NYSE:CGAU) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $24.52 and last traded at $23.3340, with a volume of 3737 shares traded. The stock had previously closed at $23.44.

Analysts Set New Price Targets

Several research firms recently commented on CGAU. Weiss Ratings lowered shares of 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 research report on Saturday, July 25th. Scotiabank reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Tuesday, August 4th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Centerra Gold in a research report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Centerra Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

Centerra Gold Price Performance

The stock has a 50 day moving average of $18.43 and a two-hundred day moving average of $18.13. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.49 and a current ratio of 2.42. The stock has a market cap of $4.45 billion, a PE ratio of 7.29, a PEG ratio of 0.88 and a beta of 0.80.

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

Centerra Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, August 19th. Centerra Gold’s dividend payout ratio is 6.39%.

Hedge Funds Weigh In On Centerra Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its holdings in shares of Centerra Gold by 63.0% in the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock valued at $34,000 after purchasing an additional 1,839 shares in the last quarter. Global Retirement Partners LLC purchased a new position in shares of Centerra Gold during the fourth quarter valued at $36,000. Pinnacle Holdings LLC acquired a new position in Centerra Gold during the second quarter valued at $45,000. Leonteq Securities AG acquired a new position in Centerra Gold during the fourth quarter valued at $72,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Centerra Gold in the 2nd quarter worth about $83,000. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

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.