Centerra Gold (NYSE:CGAU) Sets New 1-Year High - Here's What Happened

Key Points

• Centerra Gold shares reached a new 52-week high of $22.30 and last traded at $21.74, giving the company a market capitalization of approximately $4.26 billion.
• The company exceeded quarterly expectations, reporting $0.39 in EPS versus the $0.38 consensus and revenue of $442.71 million versus estimates of $394.27 million.
• Analyst sentiment remains generally positive, with five Buy ratings and three Holds, while Centerra declared a quarterly dividend of $0.07 per share, equivalent to a 1.3% yield.

Centerra Gold Inc. (NYSE:CGAU - Get Free Report)'s share price hit a new 52-week high on Thursday . The company traded as high as $22.30 and last traded at $21.74, with a volume of 1331170 shares changing hands. The stock had previously closed at $21.68.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Scotiabank restated an "outperform" rating on shares of Centerra Gold in a report on Tuesday, August 4th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Centerra Gold in a report on Thursday, July 30th. Weiss Ratings downgraded Centerra Gold from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 28th. Finally, Wall Street Zen lowered Centerra Gold from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Centerra Gold presently has an average rating of "Moderate Buy" and an average target price of $17.50.

Centerra Gold Trading Up 0.3%

The firm has a market capitalization of $4.26 billion, a PE ratio of 6.95, a PEG ratio of 0.81 and a beta of 0.80. The company has a quick ratio of 1.49, a current ratio of 2.42 and a debt-to-equity ratio of 0.03. The stock's fifty day simple moving average is $16.82 and its 200 day simple moving average is $17.72.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. Centerra Gold had a net margin of 36.92% and a return on equity of 15.35%. The firm had revenue of $442.71 million during the quarter, compared to the consensus estimate of $394.27 million. On average, sell-side analysts predict that Centerra Gold Inc. will post 1.63 earnings per share for the current year.

Centerra Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, August 19th. Centerra Gold's payout ratio is currently 6.71%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CGAU. Janney Montgomery Scott LLC increased its holdings in Centerra Gold by 2.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 24,860 shares of the company's stock worth $357,000 after acquiring an additional 575 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Centerra Gold by 2.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 36,939 shares of the company's stock valued at $531,000 after purchasing an additional 747 shares in the last quarter. CWM LLC boosted its position in shares of Centerra Gold by 5.3% in the fourth quarter. CWM LLC now owns 16,300 shares of the company's stock worth $234,000 after purchasing an additional 820 shares during the period. Pictet Asset Management Holding SA boosted its position in shares of Centerra Gold by 3.5% in the first quarter. Pictet Asset Management Holding SA now owns 39,102 shares of the company's stock worth $693,000 after purchasing an additional 1,340 shares during the period. Finally, Baron Wealth Management LLC increased its stake in shares of Centerra Gold by 6.2% in the first quarter. Baron Wealth Management LLC now owns 27,602 shares of the company's stock worth $491,000 after purchasing an additional 1,621 shares in the last quarter. Institutional investors own 55.40% of the company's stock.

About Centerra Gold

Centerra Gold Inc is a gold mining company incorporated in Canada and headquartered in Toronto. The company specializes in the exploration, development and operation of precious metals properties, with a focus on gold production. Centerra's portfolio includes the Mount Milligan mine in British Columbia, Canada, and the Otjikoto mine in Namibia. Both operations produce gold and copper concentrates and employ modern mining methods and processing facilities to optimize recovery rates and minimize environmental impact.

In addition to its producing assets, Centerra is advancing the development of its Greenstone Gold Project in Ontario, Canada, which, upon completion, is expected to become one of Canada's largest gold mines.

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