Centerra Gold (NYSE:CGAU) Shares Gap Down - Should You Sell?

Centerra Gold Inc. (NYSE:CGAU - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $7.53, but opened at $7.37. Centerra Gold shares last traded at $7.41, with a volume of 116,681 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently commented on CGAU. Desjardins downgraded Centerra Gold from a "moderate buy" rating to a "hold" rating in a research report on Thursday, February 13th. Scotiabank restated an "outperform" rating on shares of Centerra Gold in a research report on Monday, April 14th. Cormark lowered shares of Centerra Gold from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, February 26th. CIBC reissued a "neutral" rating on shares of Centerra Gold in a research note on Thursday, March 20th. Finally, National Bank Financial upgraded shares of Centerra Gold to a "strong-buy" rating in a research report on Friday, March 21st. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $12.00.

Centerra Gold Price Performance

The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 19.72 and a beta of 0.82. The firm has a fifty day simple moving average of $6.70 and a two-hundred day simple moving average of $6.26.

Centerra Gold (NYSE:CGAU - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. The business had revenue of $299.50 million during the quarter, compared to the consensus estimate of $288.25 million. Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. Equities analysts anticipate that Centerra Gold Inc. will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was Thursday, May 22nd. Centerra Gold's dividend payout ratio is presently 105.26%.

Institutional Investors Weigh In On Centerra Gold

Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in Centerra Gold during the fourth quarter worth approximately $59,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Centerra Gold during the 4th quarter valued at approximately $80,000. Entropy Technologies LP purchased a new position in shares of Centerra Gold during the 4th quarter valued at approximately $177,000. Allspring Global Investments Holdings LLC grew its stake in Centerra Gold by 131.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 588,681 shares of the company's stock valued at $3,346,000 after acquiring an additional 334,719 shares during the period. Finally, Atria Wealth Solutions Inc. increased its holdings in Centerra Gold by 11.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 50,000 shares of the company's stock worth $284,000 after acquiring an additional 5,000 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors and hedge funds.

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.