Centerra Gold (NYSE:CGAU) Sets New 1-Year Low – Time to Sell?

Shares of Centerra Gold Inc. (NYSE:CGAU) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $5.41 and last traded at $5.55, with a volume of 46602 shares changing hands. The stock had previously closed at $5.61.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CGAU shares. Scotiabank decreased their price objective on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a research note on Wednesday, January 15th. CIBC reaffirmed a “neutral” rating on shares of Centerra Gold in a report on Thursday, March 20th. Raymond James reiterated an “outperform” rating on shares of Centerra Gold in a report on Friday. Desjardins lowered shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday, February 13th. Finally, National Bank Financial raised shares of Centerra Gold to a “strong-buy” rating in a research report on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.00.

Centerra Gold Price Performance

The firm has a 50 day moving average of $6.15 and a two-hundred day moving average of $6.29. The stock has a market cap of $1.16 billion, a PE ratio of 15.29 and a beta of 0.81.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. The company had revenue of $302.40 million for the quarter, compared to analyst estimates of $316.92 million. As a group, equities analysts anticipate that Centerra Gold Inc. will post 0.59 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $0.07 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.28 dividend on an annualized basis and a yield of 5.09%. Centerra Gold’s payout ratio is 52.78%.

Hedge Funds Weigh In On Centerra Gold

Several hedge funds have recently made changes to their positions in the company. Donald Smith & CO. Inc. lifted its holdings in shares of Centerra Gold by 30.1% in the 4th quarter. Donald Smith & CO. Inc. now owns 8,723,060 shares of the company’s stock valued at $49,634,000 after purchasing an additional 2,017,756 shares during the last quarter. Vanguard Group Inc. increased its position in Centerra Gold by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 8,254,618 shares of the company’s stock worth $46,977,000 after buying an additional 76,544 shares during the period. Royal Bank of Canada increased its position in Centerra Gold by 7.2% during the fourth quarter. Royal Bank of Canada now owns 7,950,409 shares of the company’s stock worth $45,238,000 after buying an additional 530,601 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Centerra Gold by 24.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,808,773 shares of the company’s stock valued at $33,028,000 after buying an additional 1,126,825 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Centerra Gold by 34.1% in the fourth quarter. American Century Companies Inc. now owns 3,291,860 shares of the company’s stock valued at $18,733,000 after acquiring an additional 836,777 shares during the period. 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.