Centerra Gold (NYSE:CGAU) Hits New 52-Week High - What's Next?

Key Points

• Centerra Gold Inc. (NYSE:CGAU) reached a new **52-week high** at $7.83, with recent trading at **$7.77** and a volume of 129,986 shares.
• The company reported **$0.25** earnings per share for its last quarter, surpassing the consensus estimate of **$0.17**, although revenues were below expectations at **$288.30 million**.
• Centerra Gold announced a quarterly dividend of **$0.07 per share** with a dividend yield of **3.6%**, set to be paid on September 4th to shareholders of record on August 21st.

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $7.83 and last traded at $7.77, with a volume of 129986 shares. The stock had previously closed at $7.75.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CGAU shares. CIBC restated an "outperform" rating on shares of Centerra Gold in a research note on Tuesday, July 15th. Wall Street Zen upgraded shares of Centerra Gold from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Cibc World Mkts upgraded shares of Centerra Gold from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 27th. National Bankshares restated an "outperform" rating on shares of Centerra Gold in a research note on Tuesday, June 24th. Finally, BMO Capital Markets cut shares of Centerra Gold from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $13.00.

Centerra Gold Price Performance

The stock has a market cap of $1.57 billion, a P/E ratio of 23.38, a PEG ratio of 0.58 and a beta of 0.80. The firm's 50-day moving average price is $7.23 and its 200-day moving average price is $6.76.

Centerra Gold (NYSE:CGAU - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.08. The firm had revenue of $288.30 million for the quarter, compared to analysts' expectations of $319.42 million. Centerra Gold had a net margin of 6.21% and a return on equity of 9.12%. Sell-side analysts expect that Centerra Gold Inc. will post 0.59 earnings per share for the current year.

Centerra Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, August 21st. This represents a $0.28 annualized dividend and a dividend yield of 3.6%. Centerra Gold's dividend payout ratio (DPR) is presently 60.61%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC purchased a new position in shares of Centerra Gold in the second quarter valued at $27,000. Pinnacle Holdings LLC purchased a new position in shares of Centerra Gold in the first quarter valued at $39,000. Vise Technologies Inc. purchased a new position in shares of Centerra Gold in the fourth quarter valued at $58,000. Carrera Capital Advisors purchased a new position in shares of Centerra Gold in the second quarter valued at $81,000. Finally, Olympiad Research LP purchased a new position in shares of Centerra Gold in the second quarter valued at $89,000. 55.40% of the stock is owned by hedge funds and other institutional investors.

About Centerra Gold

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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