Centerra Gold (TSE:CG) Hits New 52-Week High – Here’s What Happened

Centerra Gold Inc. (TSE:CGGet Free Report)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as C$31.08 and last traded at C$30.27, with a volume of 883180 shares. The stock had previously closed at C$30.23.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CG shares. Raymond James Financial increased their price objective on shares of Centerra Gold from C$28.00 to C$29.00 and gave the company a “market perform” rating in a report on Thursday, July 30th. ATB Cormark Capital Markets lifted their target price on shares of Centerra Gold from C$26.00 to C$27.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce upped their target price on shares of Centerra Gold from C$37.00 to C$38.00 in a research report on Thursday, July 30th. TD increased their price target on Centerra Gold from C$31.00 to C$32.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Desjardins raised their price target on Centerra Gold from C$30.00 to C$33.00 and gave the stock a “hold” rating in a research report on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$28.17.

Get Our Latest Stock Report on Centerra Gold

Centerra Gold Stock Performance

The stock has a market cap of C$5.92 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 1.26 and a beta of 1.83. The stock’s fifty day moving average is C$23.68 and its 200-day moving average is C$24.52. The company has a quick ratio of 3.24, a current ratio of 2.42 and a debt-to-equity ratio of 2.11.

Centerra Gold (TSE:CGGet Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported C$0.55 earnings per share for the quarter. Centerra Gold had a net margin of 37.72% and a return on equity of 30.90%. The company had revenue of C$629.00 million for the quarter.

Centerra Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, September 2nd will be issued a dividend of $0.07 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.28 annualized dividend and a yield of 0.9%. Centerra Gold’s payout ratio is currently 6.45%.

Insider Transactions at Centerra Gold

In other Centerra Gold news, Director Paul Nicholas Wright purchased 5,000 shares of the stock in a transaction on Tuesday, May 19th. The stock was bought at an average cost of C$22.31 per share, for a total transaction of C$111,550.00. Following the completion of the acquisition, the director directly owned 130,000 shares of the company’s stock, valued at C$2,900,300. The trade was a 4.00% increase in their ownership of the stock. Insiders own 0.21% of the company’s stock.

Centerra Gold Company Profile

(Get Free Report)

Centerra Gold Inc is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. The Company also owns the Kemess Project in British Columbia, Canada, the Goldfield Project in Nevada, United States, and owns and operates the Molybdenum Business Unit in the United States and Canada.

Further Reading

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