Centerra Gold (NYSE:CGAU) Reaches New 12-Month High – Here’s Why

Centerra Gold Inc. (NYSE:CGAU)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $22.30 and last traded at $21.74, with a volume of 1331170 shares trading hands. The stock had previously closed at $21.68.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wall Street Zen lowered Centerra Gold from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Centerra Gold in a research note on Thursday, July 30th. Weiss Ratings downgraded Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Centerra Gold in a research note on Tuesday, August 4th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Centerra Gold currently has a consensus rating of “Moderate Buy” and an average target price of $17.50.

Centerra Gold Price Performance

The firm has a market cap of $4.22 billion, a P/E ratio of 6.88, a P/E/G ratio of 0.79 and a beta of 0.80. The company has a quick ratio of 1.49, a current ratio of 2.42 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $17.04 and its two-hundred day moving average is $17.77.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Centerra Gold had a net margin of 36.92% and a return on equity of 15.35%. The business had revenue of $442.71 million for the quarter, compared to analysts’ expectations of $394.27 million. As a group, analysts anticipate that Centerra Gold Inc. will post 1.63 earnings per share for the current year.

Centerra Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, August 19th. Centerra Gold’s payout ratio is currently 6.71%.

Institutional Investors Weigh In On Centerra Gold

Several large investors have recently added to or reduced their stakes in the business. Precision Wealth Strategies LLC bought a new position in shares of Centerra Gold during the 1st quarter worth approximately $1,988,000. Walleye Capital LLC bought a new stake in shares of Centerra Gold in the 1st quarter valued at $1,226,000. Public Employees Retirement System of Ohio increased its stake in shares of Centerra Gold by 14.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 869,098 shares of the company’s stock valued at $15,372,000 after acquiring an additional 106,527 shares in the last quarter. Intact Investment Management Inc. lifted its position in shares of Centerra Gold by 166.7% during the 4th quarter. Intact Investment Management Inc. now owns 1,514,820 shares of the company’s stock valued at $21,807,000 after acquiring an additional 946,920 shares during the period. Finally, Hillsdale Investment Management Inc. lifted its position in shares of Centerra Gold by 62.9% during the 4th quarter. Hillsdale Investment Management Inc. now owns 3,513,875 shares of the company’s stock valued at $50,678,000 after acquiring an additional 1,356,660 shares during the period. Institutional investors and hedge funds own 55.40% of the company’s stock.

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.