Centerra Gold (NYSE:CGAU) Shares Gap Up - Here's Why

Shares of Centerra Gold Inc. (NYSE:CGAU - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $6.83, but opened at $7.05. Centerra Gold shares last traded at $7.03, with a volume of 602,559 shares.

Wall Street Analyst Weigh In

Several research firms have weighed in on CGAU. Raymond James reiterated an "outperform" rating on shares of Centerra Gold in a report on Friday, April 4th. National Bankshares reiterated an "outperform" rating on shares of Centerra Gold in a research report on Wednesday, April 2nd. Cormark cut Centerra Gold from a "moderate buy" rating to a "hold" rating in a report on Wednesday, February 26th. CIBC restated a "neutral" rating on shares of Centerra Gold in a research report on Thursday, March 20th. Finally, National Bank Financial raised shares of Centerra Gold to a "strong-buy" rating in a research note on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $12.00.

Centerra Gold Price Performance

The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 19.58 and a beta of 0.81. The business's 50-day simple moving average is $6.16 and its two-hundred day simple moving average is $6.24.

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

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $0.07 per share. This is a positive change from Centerra Gold's previous quarterly dividend of $0.05. This represents a $0.28 annualized dividend and a yield of 3.97%. The ex-dividend date was Thursday, March 13th. Centerra Gold's dividend payout ratio is currently 52.78%.

Institutional Investors Weigh In On Centerra Gold

Hedge funds have recently bought and sold shares of the company. Donald Smith & CO. Inc. raised its stake in Centerra Gold by 30.1% in the fourth quarter. Donald Smith & CO. Inc. now owns 8,723,060 shares of the company's stock valued at $49,634,000 after buying an additional 2,017,756 shares during the period. Amundi grew its stake in shares of Centerra Gold by 168.6% during the fourth quarter. Amundi now owns 2,628,623 shares of the company's stock worth $15,377,000 after buying an additional 1,650,160 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Centerra Gold by 24.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,808,773 shares of the company's stock worth $33,028,000 after acquiring an additional 1,126,825 shares during the last quarter. Man Group plc lifted its stake in shares of Centerra Gold by 43.2% in the fourth quarter. Man Group plc now owns 3,038,739 shares of the company's stock worth $17,283,000 after acquiring an additional 916,255 shares during the period. Finally, American Century Companies Inc. boosted its position in Centerra Gold by 34.1% during the fourth quarter. American Century Companies Inc. now owns 3,291,860 shares of the company's stock valued at $18,733,000 after acquiring an additional 836,777 shares during the last quarter. 55.40% of the stock is currently owned by institutional investors and hedge funds.

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.