Centerra Gold (NYSE:CGAU) Reaches New 52-Week High at $7.55

Centerra Gold Inc. (NYSE:CGAU) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $7.55 and last traded at $7.45, with a volume of 638270 shares. The stock had previously closed at $7.12.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Cibc World Mkts lowered Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. CIBC restated a “neutral” rating and set a $13.00 price objective (up previously from $11.00) on shares of Centerra Gold in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.80.

Centerra Gold Stock Performance

The stock has a 50 day moving average price of $6.83 and a 200 day moving average price of $6.59. The company has a market cap of $1.60 billion, a P/E ratio of 26.37 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.07. Centerra Gold had a return on equity of 10.72% and a net margin of 10.68%. The company had revenue of $282.31 million for the quarter. During the same period in the prior year, the firm posted ($0.20) EPS. As a group, equities research analysts predict that Centerra Gold Inc. will post 0.81 earnings per share for the current year.

Centerra Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.051 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Thursday, August 15th. Centerra Gold’s dividend payout ratio (DPR) is presently 74.07%.

Institutional Investors Weigh In On Centerra Gold

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp raised its position in shares of Centerra Gold by 7.6% during the first quarter. Van ECK Associates Corp now owns 22,034,754 shares of the company’s stock worth $130,191,000 after purchasing an additional 1,552,601 shares during the period. Donald Smith & CO. Inc. grew its holdings in shares of Centerra Gold by 8.8% during the first quarter. Donald Smith & CO. Inc. now owns 10,747,290 shares of the company’s stock valued at $63,516,000 after buying an additional 867,334 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Centerra Gold by 594.6% during the second quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company’s stock valued at $59,532,000 after buying an additional 7,586,370 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Centerra Gold by 8.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,164,687 shares of the company’s stock valued at $18,862,000 after buying an additional 247,027 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Centerra Gold by 2.9% during the fourth quarter. Wellington Management Group LLP now owns 3,070,263 shares of the company’s stock valued at $18,418,000 after buying an additional 87,248 shares in the last quarter. 55.40% of the stock is owned by institutional investors and hedge funds.

About Centerra Gold

Centerra Gold Inc, a gold mining company, engages in the acquisition, exploration, development, and operation of gold and copper properties in North America, Turkey, and internationally. The company explores for gold, copper, and molybdenum deposits. Its flagship projects are the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt gold mine located in Turkey.