Centerra Gold (TSE:CG) Stock Breaks Above 50 Day Moving Average – Here’s What Happened

Centerra Gold Inc. (TSE:CG) shares crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of C$30.76 and traded as high as C$31.08. Centerra Gold shares last traded at C$30.81, with a volume of 673,959 shares traded.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Canadian Imperial Bank of Commerce boosted their price objective on Centerra Gold from C$37.00 to C$38.00 in a research note on Thursday, July 30th. TD boosted their price target on shares of Centerra Gold from C$31.00 to C$32.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. ATB Cormark Capital Markets increased their price target on shares of Centerra Gold from C$26.00 to C$27.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Desjardins lowered their price target on shares of Centerra Gold from C$34.00 to C$33.00 and set a “hold” rating on the stock in a report on Thursday, October 22nd. Finally, Raymond James Financial boosted their price objective on shares of Centerra Gold from C$28.00 to C$29.00 and gave the company a “market perform” rating in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$31.43.

Centerra Gold Trading Up 3.1%

The company has a market capitalization of C$5.96 billion, a price-to-earnings ratio of 14.20, a P/E/G ratio of 1.26 and a beta of 1.79. The business’s 50 day moving average price is C$30.76 and its two-hundred day moving average price is C$26.48. The company has a current ratio of 2.07, a quick ratio of 3.24 and a debt-to-equity ratio of 1.94.

Centerra Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, December 2nd will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, November 19th. Centerra Gold’s dividend payout ratio is presently 9.28%.

Insider Activity at Centerra Gold

In other news, Director Wendy Wai Ting Kei bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average price of C$29.76 per share, for a total transaction of C$29,760.00. Following the acquisition, the director directly owned 5,172 shares of the company’s stock, valued at C$153,918.72. The trade was a 23.97% increase in their position. Also, insider Yousef Rehman sold 57,636 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of C$33.50, for a total transaction of C$1,930,806.00. Following the transaction, the insider owned 77,918 shares of the company’s stock, valued at approximately C$2,610,253. This represents a 42.52% decrease in their ownership of the stock. Company insiders own 0.21% of the company’s stock.

About Centerra Gold

Centerra Gold Inc is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. The Company also owns the Kemess Project in British Columbia, Canada, the Goldfield Project in Nevada, United States, and owns and operates the Molybdenum Business Unit in the United States and Canada.