Centerra Gold (NYSE:CGAU) Trading Down 4%

Centerra Gold Inc. (NYSE:CGAU)’s stock price traded down 4% during trading on Friday . The stock traded as low as $7.46 and last traded at $7.48. 365,633 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 605,276 shares. The stock had previously closed at $7.79.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Cibc World Mkts downgraded shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. CIBC restated a “neutral” rating and issued a $13.00 price target (up previously from $11.00) on shares of Centerra Gold in a research note on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.00.

Centerra Gold Price Performance

The company has a market cap of $1.58 billion, a price-to-earnings ratio of 28.56 and a beta of 0.98. The firm’s 50 day simple moving average is $6.87 and its 200-day simple moving average is $6.61.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Thursday, August 1st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.07. Centerra Gold had a net margin of 10.68% and a return on equity of 10.72%. The business had revenue of $282.31 million during the quarter. During the same quarter last year, the company posted ($0.20) EPS. On average, analysts forecast that Centerra Gold Inc. will post 0.82 EPS for the current year.

Centerra Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a $0.051 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.20 dividend on an annualized basis and a yield of 2.75%. Centerra Gold’s payout ratio is currently 74.07%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CGAU. Vanguard Personalized Indexing Management LLC increased its holdings in Centerra Gold by 12.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock valued at $96,000 after buying an additional 1,573 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Centerra Gold during the 4th quarter worth approximately $98,000. Virtu Financial LLC purchased a new position in shares of Centerra Gold during the 1st quarter worth approximately $113,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Centerra Gold during the 2nd quarter worth approximately $131,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Centerra Gold in the 2nd quarter worth approximately $154,000. 55.40% of the stock is owned by hedge funds and other institutional investors.

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.