Centerra Gold (NYSE:CGAU) Shares Gap Up – Time to Buy?

Shares of Centerra Gold Inc. (NYSE:CGAU) gapped up prior to trading on Friday . The stock had previously closed at $6.02, but opened at $6.22. Centerra Gold shares last traded at $6.11, with a volume of 51,476 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Scotiabank dropped their price objective on shares of Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a research note on Wednesday, January 15th. Desjardins raised Centerra Gold to a “moderate buy” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Centerra Gold Stock Up 1.6 %

The firm has a market capitalization of $1.28 billion, a PE ratio of 12.74 and a beta of 0.90. The business’s fifty day moving average price is $5.89 and its 200 day moving average price is $6.54.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. The business had revenue of $323.93 million during the quarter. During the same period in the previous year, the business earned $0.20 EPS. As a group, sell-side analysts forecast that Centerra Gold Inc. will post 0.77 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a $0.052 dividend. This represents a $0.21 dividend on an annualized basis and a yield of 3.40%. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Wednesday, November 13th. Centerra Gold’s dividend payout ratio (DPR) is presently 45.83%.

Institutional Investors Weigh In On Centerra Gold

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC raised its stake in Centerra Gold by 12.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock worth $96,000 after purchasing an additional 1,573 shares during the period. Hsbc Holdings PLC raised its position in shares of Centerra Gold by 4.1% in the 2nd quarter. Hsbc Holdings PLC now owns 48,101 shares of the company’s stock worth $325,000 after buying an additional 1,895 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Centerra Gold by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 178,489 shares of the company’s stock worth $1,199,000 after buying an additional 2,120 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Centerra Gold by 8.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,308 shares of the company’s stock valued at $419,000 after acquiring an additional 4,373 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in Centerra Gold by 22.8% during the third quarter. Toronto Dominion Bank now owns 33,921 shares of the company’s stock valued at $243,000 after acquiring an additional 6,307 shares during the period. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

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.