Centerra Gold (NYSE:CGAU) Sets New 12-Month High – Here’s What Happened

Centerra Gold Inc. (NYSE:CGAU)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $19.55 and last traded at $19.5520, with a volume of 286197 shares. The stock had previously closed at $18.36.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Centerra Gold in a research report on Monday, December 29th. Wall Street Zen raised Centerra Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. BMO Capital Markets raised Centerra Gold from a “hold” rating to an “outperform” rating in a research report on Tuesday, January 20th. Zacks Research downgraded Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Finally, Cormark upgraded shares of Centerra Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Centerra Gold Price Performance

The company has a quick ratio of 2.10, a current ratio of 2.89 and a debt-to-equity ratio of 0.02. The firm has a market cap of $3.77 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 0.48 and a beta of 0.87. The stock has a 50 day moving average price of $14.38 and a two-hundred day moving average price of $11.10.

Centerra Gold (NYSE:CGAU) last released its earnings results on Tuesday, October 28th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.11. The company had revenue of $395.20 million for the quarter, compared to the consensus estimate of $314.74 million. Centerra Gold had a net margin of 26.35% and a return on equity of 10.47%. As a group, equities analysts expect that Centerra Gold Inc. will post 0.59 earnings per share for the current year.

Centerra Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were paid a $0.07 dividend. The ex-dividend date was Thursday, November 13th. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. Centerra Gold’s dividend payout ratio (DPR) is 12.20%.

Hedge Funds Weigh In On Centerra Gold

A number of institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new position in shares of Centerra Gold during the first quarter worth $192,000. Dynamic Technology Lab Private Ltd acquired a new position in Centerra Gold in the first quarter valued at approximately $97,000. Goldman Sachs Group Inc. boosted its position in Centerra Gold by 57.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock worth $84,739,000 after purchasing an additional 4,853,494 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Centerra Gold during the 1st quarter worth approximately $218,000. Finally, Farther Finance Advisors LLC purchased a new position in shares of Centerra Gold during the 2nd quarter valued at approximately $27,000. 55.40% of the stock is owned by hedge funds and other institutional investors.

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.