Centerra Gold (NYSE:CGAU) Sets New 52-Week High - Should You Buy?

Key Points

• Centerra Gold Inc. (CGAU) reached a new 52-week high of $12.00, with the last trading price at $11.79 and a volume of over 305,000 shares.
• Analysts have mixed views on the stock, with Royal Bank of Canada downgrading it to a "sector perform" but raising the price objective, while the consensus rating remains a "Moderate Buy" with a target of $12.83.
• The company declared a quarterly dividend of $0.07 per share, resulting in an annualized yield of 2.4%, with a dividend payout ratio of 60.61%.

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $12.00 and last traded at $11.79, with a volume of 305063 shares traded. The stock had previously closed at $11.35.

Wall Street Analyst Weigh In

CGAU has been the topic of several recent research reports. Royal Bank Of Canada downgraded Centerra Gold from an "outperform" rating to a "sector perform" rating and raised their price objective for the stock from $13.00 to $14.00 in a research note on Wednesday, September 10th. Weiss Ratings reissued a "hold (c)" rating on shares of Centerra Gold in a research note on Wednesday, October 8th. National Bankshares reissued an "outperform" rating on shares of Centerra Gold in a research note on Tuesday, June 24th. CIBC reissued an "outperform" rating on shares of Centerra Gold in a research note on Tuesday, July 15th. Finally, Scotiabank decreased their target price on Centerra Gold from $12.00 to $9.50 and set a "sector outperform" rating on the stock in a research note on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.83.

Centerra Gold Stock Performance

The firm has a market cap of $2.38 billion, a PE ratio of 35.65, a PEG ratio of 1.50 and a beta of 0.88. The firm has a fifty day simple moving average of $8.87 and a two-hundred day simple moving average of $7.60.

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

Centerra Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, August 21st. Centerra Gold's dividend payout ratio (DPR) is currently 60.61%.

Hedge Funds Weigh In On Centerra Gold

Institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. boosted its holdings in shares of Centerra Gold by 37.5% in the 1st quarter. Invesco Ltd. now owns 2,180,721 shares of the company's stock worth $13,848,000 after purchasing an additional 594,674 shares during the period. Deutsche Bank AG boosted its holdings in shares of Centerra Gold by 1,792.9% in the 1st quarter. Deutsche Bank AG now owns 439,501 shares of the company's stock worth $2,791,000 after purchasing an additional 416,283 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Centerra Gold by 4.7% in the 1st quarter. Hsbc Holdings PLC now owns 55,268 shares of the company's stock worth $351,000 after purchasing an additional 2,499 shares during the period. AMH Equity Ltd purchased a new position in shares of Centerra Gold in the 1st quarter worth approximately $902,000. Finally, American Century Companies Inc. boosted its holdings in shares of Centerra Gold by 9.9% in the 1st quarter. American Century Companies Inc. now owns 3,618,654 shares of the company's stock worth $22,958,000 after purchasing an additional 326,794 shares during the period. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.