Centerra Gold (NYSE:CGAU) Stock Price Down 7.5% – Here’s What Happened

Centerra Gold Inc. (NYSE:CGAU)’s stock price was down 7.5% during trading on Tuesday . The company traded as low as $18.42 and last traded at $18.4720. Approximately 1,492,885 shares changed hands during trading, a decline of 30% from the average daily volume of 2,131,974 shares. The stock had previously closed at $19.96.

Analyst Ratings Changes

Several brokerages have recently issued reports on CGAU. Weiss Ratings reiterated a “buy (b)” rating on shares of Centerra Gold in a research note on Friday, March 27th. Scotiabank increased their price objective on Centerra Gold from $13.50 to $19.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. BMO Capital Markets upgraded Centerra Gold from a “hold” rating to an “outperform” rating in a research note on Tuesday, January 20th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Centerra Gold in a research note on Wednesday, February 4th. Finally, Wall Street Zen upgraded Centerra Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 28th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Centerra Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Centerra Gold Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 2.39 and a quick ratio of 1.65. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 6.44, a PEG ratio of 1.26 and a beta of 0.90. The firm has a 50 day moving average price of $18.57 and a 200-day moving average price of $15.54.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Centerra Gold had a return on equity of 12.42% and a net margin of 42.18%.The company had revenue of $401.60 million for the quarter, compared to analysts’ expectations of $355.39 million. As a group, sell-side analysts expect that Centerra Gold Inc. will post 1.71 earnings per share for the current fiscal year.

Centerra Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th were paid a $0.07 dividend. The ex-dividend date was Thursday, March 12th. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. Centerra Gold’s dividend payout ratio (DPR) is currently 7.39%.

Institutional Trading of Centerra Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. acquired a new stake in Centerra Gold in the first quarter valued at $3,062,000. PKO Investment Management Joint Stock Co acquired a new stake in Centerra Gold in the first quarter valued at $1,544,000. Baron Wealth Management LLC raised its stake in Centerra Gold by 6.2% in the first quarter. Baron Wealth Management LLC now owns 27,602 shares of the company’s stock valued at $491,000 after buying an additional 1,621 shares in the last quarter. Virtu Financial LLC acquired a new stake in Centerra Gold in the fourth quarter valued at $312,000. Finally, Mackenzie Financial Corp raised its stake in Centerra Gold by 677.1% in the fourth quarter. Mackenzie Financial Corp now owns 1,264,565 shares of the company’s stock valued at $18,300,000 after buying an additional 1,101,830 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Centerra Gold Company Profile

Centerra Gold Inc is a gold mining company incorporated in Canada and headquartered in Toronto. The company specializes in the exploration, development and operation of precious metals properties, with a focus on gold production. Centerra’s portfolio includes the Mount Milligan mine in British Columbia, Canada, and the Otjikoto mine in Namibia. Both operations produce gold and copper concentrates and employ modern mining methods and processing facilities to optimize recovery rates and minimize environmental impact.

In addition to its producing assets, Centerra is advancing the development of its Greenstone Gold Project in Ontario, Canada, which, upon completion, is expected to become one of Canada’s largest gold mines.