Centerra Gold (NYSE:CGAU) Reaches New 1-Year High – Time to Buy?

Centerra Gold Inc. (NYSE:CGAU) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $9.98 and last traded at $9.80, with a volume of 1909695 shares changing hands. The stock had previously closed at $9.82.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CGAU. BMO Capital Markets reaffirmed a “market perform” rating on shares of Centerra Gold in a research report on Monday, September 15th. Scotiabank cut their price objective on Centerra Gold from $12.00 to $9.50 and set a “sector outperform” rating on the stock in a report on Tuesday, September 16th. CIBC restated an “outperform” rating on shares of Centerra Gold in a report on Tuesday, July 15th. Wall Street Zen upgraded Centerra Gold from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, National Bankshares restated an “outperform” rating on shares of Centerra Gold in a report on Tuesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.83.

Centerra Gold Stock Performance

The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 29.71, a price-to-earnings-growth ratio of 2.68 and a beta of 0.82. The company’s 50 day simple moving average is $7.95 and its two-hundred day simple moving average is $7.16.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.08. Centerra Gold had a net margin of 6.21% and a return on equity of 9.12%. The firm had revenue of $288.30 million for the quarter, compared to analyst estimates of $319.42 million. On average, equities research analysts predict that Centerra Gold Inc. will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, August 21st. Centerra Gold’s dividend payout ratio is presently 60.61%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CGAU. Millennium Management LLC grew its position in Centerra Gold by 0.3% during the fourth quarter. Millennium Management LLC now owns 585,238 shares of the company’s stock worth $3,330,000 after buying an additional 1,663 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of Centerra Gold by 63.0% during the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock worth $34,000 after purchasing an additional 1,839 shares in the last quarter. CWM LLC grew its holdings in shares of Centerra Gold by 15.6% during the 2nd quarter. CWM LLC now owns 14,480 shares of the company’s stock worth $104,000 after purchasing an additional 1,955 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Centerra Gold by 0.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 702,035 shares of the company’s stock worth $5,045,000 after purchasing an additional 2,047 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Centerra Gold by 4.7% during the first quarter. Hsbc Holdings PLC now owns 55,268 shares of the company’s stock worth $351,000 after buying an additional 2,499 shares in the last quarter. 55.40% of the stock is owned by institutional investors and hedge funds.

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.