Centerra Gold (NYSE:CGAU) Trading Down 3.2% on Analyst Downgrade

Centerra Gold Inc. (NYSE:CGAUGet Free Report)’s share price dropped 3.2% during trading on Wednesday after Scotiabank lowered their price target on the stock from $10.00 to $9.00. Scotiabank currently has a sector outperform rating on the stock. Centerra Gold traded as low as $5.79 and last traded at $5.82. Approximately 142,979 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 615,769 shares. The stock had previously closed at $6.01.

Separately, Desjardins raised shares of Centerra Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Read Our Latest Stock Report on CGAU

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CGAU. Vanguard Personalized Indexing Management LLC raised its stake in Centerra Gold by 12.3% during 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 during the last quarter. Hsbc Holdings PLC raised its position in shares of Centerra Gold by 4.1% in the 2nd quarter. Hsbc Holdings PLC now owns 48,101 shares of the company’s stock worth $325,000 after purchasing an additional 1,895 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Centerra Gold by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 178,489 shares of the company’s stock worth $1,199,000 after purchasing an additional 2,120 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Centerra Gold by 8.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,308 shares of the company’s stock valued at $419,000 after purchasing an additional 4,373 shares during the last quarter. Finally, Toronto Dominion Bank increased its stake in Centerra Gold by 22.8% during the 3rd quarter. Toronto Dominion Bank now owns 33,921 shares of the company’s stock valued at $243,000 after purchasing an additional 6,307 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors.

Centerra Gold Stock Down 4.0 %

The firm’s fifty day simple moving average is $5.92 and its 200-day simple moving average is $6.58. The firm has a market capitalization of $1.21 billion, a PE ratio of 12.02 and a beta of 0.90.

Centerra Gold (NYSE:CGAUGet Free Report) last issued its earnings results on Thursday, October 31st. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. The company had revenue of $323.93 million during the quarter. During the same quarter in the prior year, the company earned $0.20 EPS. As a group, analysts predict that Centerra Gold Inc. will post 0.79 earnings per share for the current year.

Centerra Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a $0.052 dividend. This represents a $0.21 annualized dividend and a yield of 3.60%. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date was Wednesday, November 13th. Centerra Gold’s dividend payout ratio is currently 43.75%.

Centerra Gold Company Profile

(Get Free Report)

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.

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