Centerra Gold (NYSE:CGAU) Reaches New 52-Week High at $7.55

Centerra Gold Inc. (NYSE:CGAU)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $7.55 and last traded at $7.45, with a volume of 638270 shares. The stock had previously closed at $7.12.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Cibc World Mkts cut 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 price objective (up previously from $11.00) on shares of Centerra Gold in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Centerra Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.80.

Centerra Gold Stock Performance

The business has a fifty day moving average price of $6.83 and a 200 day moving average price of $6.59. The company has a market capitalization of $1.60 billion, a PE ratio of 26.37 and a beta of 0.98.

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

Centerra Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a dividend of $0.051 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.20 annualized dividend and a dividend yield of 2.73%. Centerra Gold’s payout ratio is currently 74.07%.

Institutional Investors Weigh In On Centerra Gold

A number of hedge funds have recently bought and sold shares of CGAU. Acadian Asset Management LLC grew its stake in Centerra Gold by 594.6% during the 2nd quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company’s stock valued at $59,532,000 after purchasing an additional 7,586,370 shares in the last quarter. Pale Fire Capital SE grew its position in shares of Centerra Gold by 1,136.9% in the 4th quarter. Pale Fire Capital SE now owns 1,807,787 shares of the company’s stock worth $10,774,000 after acquiring an additional 1,661,638 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Centerra Gold by 7.6% in the 1st quarter. Van ECK Associates Corp now owns 22,034,754 shares of the company’s stock worth $130,191,000 after acquiring an additional 1,552,601 shares in the last quarter. Bank of Montreal Can grew its position in shares of Centerra Gold by 158.9% in the 2nd quarter. Bank of Montreal Can now owns 2,433,241 shares of the company’s stock worth $16,881,000 after acquiring an additional 1,493,349 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Centerra Gold by 132.8% in the 2nd quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock worth $12,345,000 after acquiring an additional 1,047,142 shares in the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

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.