Centerra Gold (NYSE:CGAU) Shares Gap Up to $6.90

Shares of Centerra Gold Inc. (NYSE:CGAU) gapped up before the market opened on Friday . The stock had previously closed at $6.90, but opened at $7.06. Centerra Gold shares last traded at $6.95, with a volume of 114,173 shares.

Analyst Upgrades and Downgrades

CGAU has been the topic of a number of recent research reports. CIBC reiterated a “neutral” rating and issued a $13.00 target price (up from $11.00) on shares of Centerra Gold in a report on Wednesday, July 10th. Scotiabank upped their target price on Centerra Gold from $8.00 to $9.00 and gave the company a “sector outperform” rating in a report on Thursday, May 23rd. Finally, Cibc World Mkts downgraded shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $9.80.

Centerra Gold Stock Performance

The firm has a market capitalization of $1.49 billion, a PE ratio of 25.57 and a beta of 0.98. The business’s 50 day moving average is $6.83 and its two-hundred day moving average is $6.55.

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

Centerra Gold Dividend Announcement

The business 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. This represents a $0.20 annualized dividend and a dividend yield of 2.93%. The ex-dividend date was Thursday, August 15th. Centerra Gold’s dividend payout ratio (DPR) is 74.07%.

Institutional Investors Weigh In On Centerra Gold

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

Centerra Gold Company Profile

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.