Centerra Gold Inc. (NYSE:CGAU - Get Free Report) gapped up before the market opened on Tuesday after the company announced a dividend. The stock had previously closed at $6.48, but opened at $6.73. Centerra Gold shares last traded at $6.98, with a volume of 168,169 shares.
The newly announced dividend which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Thursday, May 22nd. Centerra Gold's payout ratio is currently 52.78%.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on CGAU. Scotiabank reissued an "outperform" rating on shares of Centerra Gold in a research report on Monday, April 14th. National Bankshares reissued an "outperform" rating on shares of Centerra Gold in a report on Wednesday, April 23rd. Desjardins downgraded shares of Centerra Gold from a "moderate buy" rating to a "hold" rating in a research report on Thursday, February 13th. CIBC reiterated a "neutral" rating on shares of Centerra Gold in a research note on Thursday, March 20th. Finally, Cormark downgraded shares of Centerra Gold from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Centerra Gold currently has an average rating of "Moderate Buy" and a consensus price target of $12.00.
Read Our Latest Research Report on CGAU
Centerra Gold Stock Up 2.5 %
The stock has a market capitalization of $1.53 billion, a PE ratio of 20.22 and a beta of 0.80. The stock's 50 day moving average price is $6.34 and its 200-day moving average price is $6.21.
Centerra Gold (NYSE:CGAU - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.12. The business had revenue of $299.50 million during the quarter, compared to analyst estimates of $288.25 million. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. On average, analysts forecast that Centerra Gold Inc. will post 0.59 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Deutsche Bank AG raised its position in shares of Centerra Gold by 1,792.9% during the first quarter. Deutsche Bank AG now owns 439,501 shares of the company's stock valued at $2,791,000 after buying an additional 416,283 shares during the last quarter. Vanguard Group Inc. increased its holdings in Centerra Gold by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 8,310,457 shares of the company's stock valued at $52,722,000 after acquiring an additional 55,839 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in Centerra Gold by 80.0% in the 1st quarter. Atria Wealth Solutions Inc. now owns 90,000 shares of the company's stock valued at $571,000 after acquiring an additional 40,000 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of Centerra Gold during the 1st quarter valued at about $1,128,000. Finally, Bastion Asset Management Inc. grew its position in shares of Centerra Gold by 1.5% during the first quarter. Bastion Asset Management Inc. now owns 818,173 shares of the company's stock valued at $5,195,000 after purchasing an additional 12,153 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors.
About Centerra Gold
(
Get Free Report)
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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