Centerra Gold (NYSE:CGAU) Reaches New 1-Year High - Time to Buy?

Key Points

• Centerra Gold Inc. (NYSE:CGAU) shares reached a new 52-week high of $10.75, with a recent trading volume of nearly 2 million shares.
• While analysts have mixed ratings on the stock, the consensus rating is a "Moderate Buy" with an average price target of $12.83, despite some analysts lowering their price targets recently.
• The company declared a quarterly dividend of $0.07, representing an annualized dividend yield of 2.6%, and its dividend payout ratio is currently 60.61%.

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) shares hit a new 52-week high on Wednesday . The company traded as high as $10.75 and last traded at $10.73, with a volume of 1998408 shares trading hands. The stock had previously closed at $10.40.

Analysts Set New Price Targets

CGAU has been the topic of several recent research reports. Wall Street Zen lowered shares of Centerra Gold from a "buy" rating to a "hold" rating in a report on Friday, September 26th. CIBC restated an "outperform" rating on shares of Centerra Gold in a report on Tuesday, July 15th. BMO Capital Markets restated a "market perform" rating on shares of Centerra Gold in a report on Monday, September 15th. National Bankshares restated an "outperform" rating on shares of Centerra Gold in a report on Tuesday, June 24th. Finally, Scotiabank reduced 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. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $12.83.

Centerra Gold Stock Performance

The business's 50 day simple moving average is $8.19 and its 200-day simple moving average is $7.30. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 32.50, a price-to-earnings-growth ratio of 3.17 and a beta of 0.82.

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

Centerra Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, August 21st. Centerra Gold's dividend payout ratio is currently 60.61%.

Institutional Trading of Centerra Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Deutsche Bank AG lifted its stake in Centerra Gold by 91.5% during the fourth quarter. Deutsche Bank AG now owns 23,218 shares of the company's stock valued at $132,000 after purchasing an additional 11,093 shares during the last quarter. Invesco Ltd. lifted its stake in Centerra Gold by 37.5% during the first quarter. Invesco Ltd. now owns 2,180,721 shares of the company's stock valued at $13,848,000 after purchasing an additional 594,674 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Centerra Gold by 4.7% during the first quarter. Hsbc Holdings PLC now owns 55,268 shares of the company's stock valued at $351,000 after purchasing an additional 2,499 shares during the last quarter. AMH Equity Ltd acquired a new stake in Centerra Gold during the first quarter valued at approximately $902,000. Finally, American Century Companies Inc. lifted its stake in Centerra Gold by 9.9% during the first quarter. American Century Companies Inc. now owns 3,618,654 shares of the company's stock valued at $22,958,000 after purchasing an additional 326,794 shares during the last quarter. 55.40% of the stock is 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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