Centerra Gold (NYSE:CGAU) Shares Gap Up to $5.95

Centerra Gold Inc. (NYSE:CGAU) shares gapped up prior to trading on Wednesday . The stock had previously closed at $5.95, but opened at $6.13. Centerra Gold shares last traded at $6.06, with a volume of 193,475 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently commented on CGAU. National Bank Financial reissued an “outperform overweight” rating on shares of Centerra Gold in a research report on Monday, April 8th. Raymond James reduced their price target on Centerra Gold from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, December 29th. CIBC boosted their target price on Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a research note on Monday. Finally, BMO Capital Markets initiated coverage on Centerra Gold in a research note on Wednesday, February 21st. They set an “outperform” rating on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $9.78.

Centerra Gold Stock Performance

The company has a 50 day moving average of $5.58 and a two-hundred day moving average of $5.51. The stock has a market capitalization of $1.33 billion, a PE ratio of -16.39 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). The firm had revenue of $340.00 million for the quarter. Centerra Gold had a negative net margin of 7.43% and a positive return on equity of 0.62%. As a group, research analysts predict that Centerra Gold Inc. will post 0.51 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 13th were paid a dividend of $0.0518 per share. This represents a $0.21 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Tuesday, March 12th. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s payout ratio is presently -43.24%.

Institutional Trading of Centerra Gold

A number of hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its stake in shares of Centerra Gold by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 160,838 shares of the company’s stock worth $964,000 after buying an additional 2,402 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Centerra Gold by 3.6% in the second quarter. Geode Capital Management LLC now owns 83,523 shares of the company’s stock worth $501,000 after buying an additional 2,920 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Centerra Gold by 22.8% in the second quarter. Great West Life Assurance Co. Can now owns 17,373 shares of the company’s stock worth $104,000 after buying an additional 3,223 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Centerra Gold by 1.8% in the third quarter. CIBC Asset Management Inc now owns 207,198 shares of the company’s stock worth $1,016,000 after buying an additional 3,640 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Centerra Gold by 1.0% in the third quarter. Legal & General Group Plc now owns 399,671 shares of the company’s stock worth $1,963,000 after buying an additional 4,151 shares during the last quarter. Hedge funds and other institutional investors 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.