Centerra Gold (NYSE:CGAU) Sets New 1-Year High - Still a Buy?

Key Points

• Centerra Gold Inc. shares reached a new 52-week high at $8.47, indicating a strong performance with a trading volume of 42,784 shares.
• Analysts have varying ratings on the stock, with a consensus of Moderate Buy and a target price of $13.00, reflecting positive market sentiment.
• The company recently announced a quarterly dividend of $0.07 per share, providing an annualized yield of 3.3% for shareholders.

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $8.47 and last traded at $8.32, with a volume of 42784 shares. The stock had previously closed at $8.17.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CGAU shares. CIBC reaffirmed an "outperform" rating on shares of Centerra Gold in a research note on Tuesday, July 15th. Cibc World Mkts raised shares of Centerra Gold from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 27th. Wall Street Zen raised shares of Centerra Gold from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. BMO Capital Markets downgraded shares of Centerra Gold from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 8th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Centerra Gold in a research note on Tuesday, June 24th. Two equities 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 data from MarketBeat.com, Centerra Gold has an average rating of "Moderate Buy" and a consensus price target of $13.00.

Centerra Gold Price Performance

The firm has a market capitalization of $1.76 billion, a P/E ratio of 26.17, a P/E/G ratio of 0.63 and a beta of 0.82. The stock's 50 day moving average is $7.43 and its two-hundred day moving average is $6.86.

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

Centerra Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, August 21st. Centerra Gold's dividend payout ratio is presently 60.61%.

Institutional Investors Weigh In On Centerra Gold

Large investors have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in Centerra Gold during the fourth quarter worth $268,000. Hsbc Holdings PLC increased its position in Centerra Gold by 6.5% during the fourth quarter. Hsbc Holdings PLC now owns 52,769 shares of the company's stock worth $299,000 after acquiring an additional 3,201 shares during the period. The Manufacturers Life Insurance Company increased its position in Centerra Gold by 2.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 181,755 shares of the company's stock worth $1,036,000 after acquiring an additional 3,608 shares during the period. BNP Paribas Financial Markets bought a new position in Centerra Gold during the fourth quarter worth about $396,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Centerra Gold by 96.5% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 100,000 shares of the company's stock worth $569,000 after buying an additional 49,108 shares in the last quarter. Institutional investors own 55.40% of the company's stock.

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.