Centerra Gold (NYSE:CGAU) Trading Up 4.6% – Still a Buy?

Centerra Gold Inc. (NYSE:CGAU)’s stock price rose 4.6% during mid-day trading on Tuesday . The stock traded as high as $6.48 and last traded at $6.38. Approximately 140,891 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 779,367 shares. The stock had previously closed at $6.10.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CGAU shares. National Bank Financial raised shares of Centerra Gold to a “strong-buy” rating in a research report on Friday. Cormark downgraded shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Desjardins cut shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, Scotiabank reduced their price objective on 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. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Centerra Gold Stock Up 4.3 %

The firm’s fifty day simple moving average is $6.13 and its two-hundred day simple moving average is $6.34. The firm has a market cap of $1.34 billion, a PE ratio of 17.69 and a beta of 0.92.

Centerra Gold (NYSE:CGAU) last issued its earnings results on Thursday, February 20th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). The firm had revenue of $302.40 million during the quarter, compared to the consensus estimate of $316.92 million. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. As a group, analysts anticipate that Centerra Gold Inc. will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 4.40%. The ex-dividend date is Thursday, March 13th. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio (DPR) is 52.78%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vise Technologies Inc. purchased a new position in shares of Centerra Gold in the fourth quarter worth $58,000. SG Americas Securities LLC purchased a new stake in Centerra Gold in the 4th quarter worth $59,000. Massachusetts Financial Services Co. MA bought a new position in shares of Centerra Gold during the 4th quarter valued at about $60,000. Susquehanna Advisors Group Inc. purchased a new position in shares of Centerra Gold during the fourth quarter valued at about $61,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Centerra Gold in the fourth quarter worth about $79,000. 55.40% of the stock is currently owned by 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.