Centerra Gold (NYSE:CGAU) Stock Price Down 2.3% - Here's Why

Centerra Gold Inc. (NYSE:CGAU - Get Free Report)'s share price was down 2.3% during mid-day trading on Tuesday . The company traded as low as $6.94 and last traded at $6.87. Approximately 275,008 shares were traded during trading, a decline of 67% from the average daily volume of 843,429 shares. The stock had previously closed at $7.03.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Desjardins cut shares of Centerra Gold from a "moderate buy" rating to a "hold" rating in a research note on Thursday, February 13th. Cormark lowered Centerra Gold from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, February 26th. National Bank Financial upgraded Centerra Gold to a "strong-buy" rating in a report on Friday, March 21st. CIBC restated a "neutral" rating on shares of Centerra Gold in a report on Thursday, March 20th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Centerra Gold in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $12.00.

Centerra Gold Stock Down 1.8 %

The business has a 50 day moving average price of $6.18 and a 200 day moving average price of $6.24. The stock has a market cap of $1.39 billion, a P/E ratio of 18.39 and a beta of 0.81.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.03). Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. The company had revenue of $302.40 million during the quarter, compared to the consensus estimate of $316.92 million. On average, research analysts expect that Centerra Gold Inc. will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Centerra Gold's previous quarterly dividend of $0.05. Centerra Gold's dividend payout ratio (DPR) is currently 52.78%.

Hedge Funds Weigh In On Centerra Gold

Hedge funds have recently modified their holdings of the stock. Barclays PLC increased its stake in Centerra Gold by 284.5% during the 3rd quarter. Barclays PLC now owns 74,930 shares of the company's stock valued at $537,000 after purchasing an additional 55,444 shares in the last quarter. Geode Capital Management LLC lifted its position in Centerra Gold by 378.7% during the 3rd quarter. Geode Capital Management LLC now owns 454,939 shares of the company's stock worth $4,152,000 after acquiring an additional 359,905 shares during the period. JPMorgan Chase & Co. grew its stake in Centerra Gold by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 385,199 shares of the company's stock valued at $2,758,000 after purchasing an additional 33,420 shares during the last quarter. Ritholtz Wealth Management increased its holdings in shares of Centerra Gold by 285.2% in the fourth quarter. Ritholtz Wealth Management now owns 97,025 shares of the company's stock valued at $552,000 after purchasing an additional 71,835 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Centerra Gold in the fourth quarter worth about $59,000. Institutional investors and hedge funds 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.