Centerra Gold (NYSE:CGAU) Shares Gap Down - What's Next?

Key Points

• Centerra Gold shares gapped down significantly, opening at $11.25 after a prior close of $12.13, reflecting a market cap of $2.21 billion with high trading volume.
• Wall Street analysts hold a consensus rating of "Moderate Buy" for Centerra Gold, with an average price target of $12.83 based on various ratings from research firms.
• The company recently announced a quarterly dividend of $0.07 per share, yielding approximately 2.6%, indicating a dividend payout ratio of 60.61%.

Centerra Gold Inc. (NYSE:CGAU - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $12.13, but opened at $11.25. Centerra Gold shares last traded at $11.03, with a volume of 884,854 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CGAU. National Bankshares restated an "outperform" rating on shares of Centerra Gold in a research note on Tuesday, June 24th. Raymond James Financial cut shares of Centerra Gold from a "moderate buy" rating to a "hold" rating in a research note on Friday, October 10th. BMO Capital Markets reissued a "market perform" rating on shares of Centerra Gold in a report on Monday, September 15th. Royal Bank Of Canada lowered Centerra Gold from an "outperform" rating to a "sector perform" rating and raised their price objective for the company from $13.00 to $14.00 in a research report on Wednesday, September 10th. Finally, CIBC reiterated an "outperform" rating on shares of Centerra Gold in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $12.83.

Centerra Gold Price Performance

The company has a 50-day moving average of $9.45 and a 200 day moving average of $7.85. The company has a market cap of $2.21 billion, a PE ratio of 33.02, a price-to-earnings-growth ratio of 0.76 and a beta of 0.88.

Centerra Gold (NYSE:CGAU - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.08. The firm 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 research analysts expect that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, August 21st. Centerra Gold's dividend payout ratio is 60.61%.

Hedge Funds Weigh In On Centerra Gold

Several hedge funds have recently bought and sold shares of the business. CWM LLC lifted its position in shares of Centerra Gold by 6.9% during the third quarter. CWM LLC now owns 15,480 shares of the company's stock worth $166,000 after purchasing an additional 1,000 shares during the last quarter. Osaic Holdings Inc. boosted its position in Centerra Gold by 63.0% in the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company's stock valued at $34,000 after buying an additional 1,839 shares during the period. Russell Investments Group Ltd. grew its stake in Centerra Gold by 0.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 702,035 shares of the company's stock worth $5,045,000 after acquiring an additional 2,047 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Centerra Gold by 4.7% during the first quarter. Hsbc Holdings PLC now owns 55,268 shares of the company's stock worth $351,000 after acquiring an additional 2,499 shares during the period. Finally, Northwest & Ethical Investments L.P. raised its stake in shares of Centerra Gold by 16.2% during the second quarter. Northwest & Ethical Investments L.P. now owns 22,648 shares of the company's stock valued at $163,000 after acquiring an additional 3,160 shares in the last quarter. Institutional investors own 55.40% of the company's stock.

Centerra Gold Company Profile

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.

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