Centerra Gold (NYSE:CGAU) Stock Price Down 7.5% - Here's What Happened

Key Points

• Down 7.5%: Shares fell to $18.47 mid-day (low $18.42) from a $19.96 close, with about 1.49M shares traded—roughly 30% below average daily volume.
• Mixed analyst activity: the consensus rating is a Moderate Buy with a $16 consensus price target; recent moves include Scotiabank raising its target to $19 (outperform) and Wall Street Zen upgrading to "strong-buy," while Zacks cut to "hold."
• Solid fundamentals and shareholder return: the company reported quarterly EPS of $0.41 and revenue of $401.6M (both beating estimates), has a $3.65B market cap and 6.44 PE, and pays a $0.07 quarterly dividend (≈1.5% yield).

Shares of Centerra Gold Inc. (NYSE:CGAU - Get Free Report) were down 7.5% during mid-day trading on Tuesday . The company traded as low as $18.42 and last traded at $18.4720. Approximately 1,492,885 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 2,131,974 shares. The stock had previously closed at $19.96.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CGAU shares. Scotiabank upped their price target on Centerra Gold from $13.50 to $19.00 and gave the company an "outperform" rating in a research report on Monday, January 26th. Wall Street Zen upgraded Centerra Gold from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 28th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Centerra Gold in a research report on Wednesday, February 4th. Weiss Ratings restated a "buy (b)" rating on shares of Centerra Gold in a research report on Friday, March 27th. Finally, Zacks Research lowered Centerra Gold from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 24th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.00.

Centerra Gold Stock Down 8.3%

The company has a market capitalization of $3.65 billion, a PE ratio of 6.44, a price-to-earnings-growth ratio of 1.26 and a beta of 0.90. The company has a quick ratio of 1.65, a current ratio of 2.39 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average of $18.57 and a two-hundred day moving average of $15.54.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. The company had revenue of $401.60 million during the quarter, compared to analyst estimates of $355.39 million. Centerra Gold had a return on equity of 12.42% and a net margin of 42.18%. Equities research analysts predict that Centerra Gold Inc. will post 1.71 earnings per share for the current fiscal year.

Centerra Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.5%. The ex-dividend date was Thursday, March 12th. Centerra Gold's dividend payout ratio is presently 7.39%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its stake in Centerra Gold by 32.7% during the third quarter. American Century Companies Inc. now owns 5,379,277 shares of the company's stock worth $57,631,000 after purchasing an additional 1,324,448 shares in the last quarter. TD Asset Management Inc lifted its stake in Centerra Gold by 12.2% during the third quarter. TD Asset Management Inc now owns 1,489,163 shares of the company's stock worth $15,958,000 after purchasing an additional 161,542 shares in the last quarter. Waratah Capital Advisors Ltd. lifted its stake in Centerra Gold by 4.1% during the third quarter. Waratah Capital Advisors Ltd. now owns 6,954,407 shares of the company's stock worth $74,621,000 after purchasing an additional 275,510 shares in the last quarter. Quantbot Technologies LP lifted its stake in Centerra Gold by 194.2% during the third quarter. Quantbot Technologies LP now owns 345,831 shares of the company's stock worth $3,711,000 after purchasing an additional 228,264 shares in the last quarter. Finally, Intact Investment Management Inc. lifted its stake in Centerra Gold by 41.5% during the third quarter. Intact Investment Management Inc. now owns 567,900 shares of the company's stock worth $6,085,000 after purchasing an additional 166,500 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 is a gold mining company incorporated in Canada and headquartered in Toronto. The company specializes in the exploration, development and operation of precious metals properties, with a focus on gold production. Centerra's portfolio includes the Mount Milligan mine in British Columbia, Canada, and the Otjikoto mine in Namibia. Both operations produce gold and copper concentrates and employ modern mining methods and processing facilities to optimize recovery rates and minimize environmental impact.

In addition to its producing assets, Centerra is advancing the development of its Greenstone Gold Project in Ontario, Canada, which, upon completion, is expected to become one of Canada's largest gold mines.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.