Centerra Gold (NYSE:CGAU) Reaches New 12-Month High – What’s Next?

Centerra Gold Inc. (NYSE:CGAU)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $18.37 and last traded at $18.2120, with a volume of 573809 shares trading hands. The stock had previously closed at $16.13.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CGAU shares. Zacks Research lowered Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. BMO Capital Markets raised shares of Centerra Gold from a “hold” rating to an “outperform” rating in a research report on Tuesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Centerra Gold in a research note on Monday, December 29th. Raymond James Financial restated a “market perform” rating on shares of Centerra Gold in a research report on Thursday, October 30th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Centerra Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.17.

Centerra Gold Trading Up 2.6%

The company has a quick ratio of 2.10, a current ratio of 2.89 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 0.45 and a beta of 0.87. The business’s fifty day moving average is $14.14 and its 200 day moving average is $10.92.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The company had revenue of $395.20 million during the quarter, compared to the consensus estimate of $314.74 million. Centerra Gold had a net margin of 26.35% and a return on equity of 10.47%. Equities analysts predict that Centerra Gold Inc. will post 0.59 earnings per share for the current year.

Centerra Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, November 13th. Centerra Gold’s dividend payout ratio (DPR) is currently 12.20%.

Institutional Trading of Centerra Gold

Several institutional investors have recently modified their holdings of CGAU. Burkett Financial Services LLC bought a new position in Centerra Gold in the third quarter worth approximately $30,000. TD Waterhouse Canada Inc. boosted its stake in Centerra Gold by 1,106.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 2,980 shares of the company’s stock worth $33,000 after purchasing an additional 2,733 shares during the period. Farther Finance Advisors LLC bought a new position in Centerra Gold in the 2nd quarter valued at $27,000. Osaic Holdings Inc. increased its position in shares of Centerra Gold by 63.0% in the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock worth $34,000 after purchasing an additional 1,839 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Centerra Gold during the 3rd quarter worth $90,000. Institutional investors own 55.40% of the company’s stock.

About Centerra Gold

Centerra Gold Inc is a gold mining company incorporated in Canada and headquartered in Toronto. The company specializes in the exploration, development and operation of precious metals properties, with a focus on gold production. Centerra’s portfolio includes the Mount Milligan mine in British Columbia, Canada, and the Otjikoto mine in Namibia. Both operations produce gold and copper concentrates and employ modern mining methods and processing facilities to optimize recovery rates and minimize environmental impact.

In addition to its producing assets, Centerra is advancing the development of its Greenstone Gold Project in Ontario, Canada, which, upon completion, is expected to become one of Canada’s largest gold mines.