Centerra Gold (NYSE:CGAU) Hits New 1-Year High - Should You Buy?

Key Points

• Centerra Gold Inc. (NYSE:CGAU) shares reached a new 52-week high of $11.83, closing at $11.61 with a trading volume of over 2 million shares.
• Equity analysts have varying ratings on the stock, with a consensus rating of "Moderate Buy" and an average price target of $12.83, while several firms have updated their price targets recently.
• Centerra Gold reported earnings of $0.25 per share for the last quarter, exceeding analysts' expectations, but its revenue of $288.30 million fell short of the consensus estimate.

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $11.83 and last traded at $11.61, with a volume of 2158442 shares traded. The stock had previously closed at $11.37.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets reaffirmed a "market perform" rating on shares of Centerra Gold in a report on Monday, September 15th. CIBC reaffirmed an "outperform" rating on shares of Centerra Gold in a report on Tuesday, July 15th. Scotiabank lowered their target price on shares of Centerra Gold from $12.00 to $9.50 and set a "sector outperform" rating on the stock in a report on Tuesday, September 16th. National Bankshares reissued an "outperform" rating on shares of Centerra Gold in a report on Tuesday, June 24th. Finally, Royal Bank Of Canada lowered shares of Centerra Gold from an "outperform" rating to a "sector perform" rating and increased their price objective for the stock from $13.00 to $14.00 in a report on Wednesday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $12.83.

Centerra Gold Stock Performance

The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 35.18, a P/E/G ratio of 1.55 and a beta of 0.88. The business's 50-day simple moving average is $8.51 and its 200-day simple moving average is $7.45.

Centerra Gold (NYSE:CGAU - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.08. Centerra Gold had a net margin of 6.21% and a return on equity of 9.12%. The company had revenue of $288.30 million for the quarter, compared to the consensus estimate of $319.42 million. On average, analysts forecast 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 Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a dividend of $0.07 per share. The ex-dividend date was Thursday, August 21st. This represents a $0.28 dividend on an annualized basis and a yield of 2.4%. Centerra Gold's dividend payout ratio is presently 60.61%.

Institutional Trading of Centerra Gold

A number of hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. raised its position in shares of Centerra Gold by 63.0% in the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company's stock valued at $34,000 after acquiring an additional 1,839 shares during the period. Man Group plc raised its position in shares of Centerra Gold by 9.7% in the 2nd quarter. Man Group plc now owns 3,649,899 shares of the company's stock valued at $26,241,000 after acquiring an additional 323,860 shares during the period. BNP Paribas Financial Markets raised its position in shares of Centerra Gold by 104.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 150,544 shares of the company's stock valued at $1,085,000 after acquiring an additional 76,903 shares during the period. Bank of America Corp DE raised its position in shares of Centerra Gold by 71.2% in the 2nd quarter. Bank of America Corp DE now owns 2,521,903 shares of the company's stock valued at $18,183,000 after acquiring an additional 1,049,152 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Centerra Gold by 12.1% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 138,823 shares of the company's stock valued at $998,000 after acquiring an additional 14,985 shares during the period. 55.40% of the stock is currently owned by institutional investors and hedge funds.

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.

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