Centerra Gold (NYSE:CGAU) Trading 4.3% Higher

Centerra Gold Inc. (NYSE:CGAU)’s stock price traded up 4.3% during trading on Monday . The company traded as high as $7.24 and last traded at $7.23. 198,944 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 587,424 shares. The stock had previously closed at $6.93.

Wall Street Analysts Forecast Growth

CGAU has been the topic of several recent research reports. Cibc World Mkts cut shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. CIBC reiterated a “neutral” rating and issued a $13.00 target price (up previously from $11.00) on shares of Centerra Gold in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Centerra Gold has an average rating of “Moderate Buy” and a consensus target price of $9.80.

Centerra Gold Price Performance

The stock has a market capitalization of $1.55 billion, a PE ratio of 25.67 and a beta of 0.98. The firm has a fifty day moving average price of $6.82 and a two-hundred day moving average price of $6.58.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.07. The firm had revenue of $282.31 million for the quarter. Centerra Gold had a net margin of 10.68% and a return on equity of 10.72%. During the same quarter in the previous year, the company posted ($0.20) earnings per share. On average, research analysts expect that Centerra Gold Inc. will post 0.81 earnings per share for the current fiscal year.

Centerra Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a $0.051 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Thursday, August 15th. Centerra Gold’s dividend payout ratio is 74.07%.

Institutional Investors Weigh In On Centerra Gold

Several hedge funds have recently modified their holdings of CGAU. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Centerra Gold by 12.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock valued at $96,000 after buying an additional 1,573 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Centerra Gold in the fourth quarter valued at approximately $98,000. Virtu Financial LLC purchased a new position in Centerra Gold in the first quarter worth $113,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Centerra Gold during the 2nd quarter valued at $131,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Centerra Gold in the 2nd quarter worth $154,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

About Centerra Gold

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.