Centerra Gold (NYSE:CGAU) Shares Down 3.2% Following Analyst Downgrade

Centerra Gold Inc. (NYSE:CGAU) fell 3.2% during trading on Wednesday after Scotiabank lowered their price target on the stock from $10.00 to $9.00. Scotiabank currently has a sector outperform rating on the stock. Centerra Gold traded as low as $5.79 and last traded at $5.82. 142,979 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 615,769 shares. The stock had previously closed at $6.01.

Separately, Desjardins raised Centerra Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Hedge Funds Weigh In On Centerra Gold

Large investors have recently modified their holdings of the stock. CWM LLC bought a new position in shares of Centerra Gold during the 3rd quarter valued at approximately $57,000. Capstone Investment Advisors LLC bought a new position in shares of Centerra Gold during the 3rd quarter valued at approximately $89,000. Vanguard Personalized Indexing Management LLC increased its position in shares of Centerra Gold by 12.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock valued at $96,000 after purchasing an additional 1,573 shares during the last quarter. HighTower Advisors LLC bought a new position in Centerra Gold in the 3rd quarter valued at $127,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Centerra Gold in the 2nd quarter valued at $131,000. Institutional investors own 55.40% of the company’s stock.

Centerra Gold Trading Down 3.2 %

The company has a 50-day simple moving average of $5.92 and a 200 day simple moving average of $6.58. The company has a market cap of $1.22 billion, a P/E ratio of 12.13 and a beta of 0.90.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $323.93 million during the quarter. Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. During the same quarter in the previous year, the business earned $0.20 earnings per share. On average, equities analysts forecast that Centerra Gold Inc. will post 0.79 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.052 dividend. This represents a $0.21 annualized dividend and a yield of 3.57%. The ex-dividend date was Wednesday, November 13th. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio is 43.75%.

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.