Centerra Gold (TSE:CG) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Centerra Gold Inc. (TSE:CG)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$8.93 and traded as high as C$8.93. Centerra Gold shares last traded at C$8.78, with a volume of 1,335,588 shares.

Analyst Ratings Changes

CG has been the topic of a number of recent research reports. National Bankshares raised their target price on shares of Centerra Gold from C$12.00 to C$12.50 and gave the stock an “outperform” rating in a report on Wednesday. Royal Bank of Canada cut their price objective on shares of Centerra Gold from C$12.00 to C$11.00 in a research report on Tuesday, January 7th. Desjardins lowered Centerra Gold from a “buy” rating to a “hold” rating and decreased their price objective for the stock from C$12.75 to C$11.00 in a report on Thursday, February 13th. CIBC boosted their price target on Centerra Gold from C$9.80 to C$10.30 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Cormark cut shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$11.58.

Centerra Gold Stock Up 0.2 %

The company has a debt-to-equity ratio of 1.26, a quick ratio of 3.24 and a current ratio of 3.60. The firm’s 50-day simple moving average is C$8.77 and its 200 day simple moving average is C$8.93. The company has a market cap of C$1.34 billion, a P/E ratio of 12.97, a PEG ratio of 1.26 and a beta of 1.23.

Centerra Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 27th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Thursday, March 13th. Centerra Gold’s payout ratio is presently 40.58%.

Insider Transactions at Centerra Gold

In other news, Senior Officer Claudia D’orazio sold 3,831 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of C$8.28, for a total transaction of C$31,720.68. Also, Director Paul Botond Stilicho Tomory sold 8,563 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of C$8.28, for a total value of C$70,901.64. 0.21% of the stock is owned by insiders.

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.