Centerra Gold (NYSE:CGAU) Trading Up 7.6% - Still a Buy?

Shares of Centerra Gold Inc. (NYSE:CGAU - Get Free Report) were up 7.6% during trading on Monday . The company traded as high as $7.54 and last traded at $7.54. Approximately 1,071,329 shares changed hands during mid-day trading, an increase of 16% from the average daily volume of 920,872 shares. The stock had previously closed at $7.00.

Wall Street Analysts Forecast Growth

CGAU has been the subject of several recent research reports. Cibc World Mkts upgraded shares of Centerra Gold from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. CIBC reiterated an "outperform" rating on shares of Centerra Gold in a research note on Tuesday, July 15th. Scotiabank reiterated an "outperform" rating on shares of Centerra Gold in a research note on Monday, April 14th. Raymond James Financial restated an "outperform" rating on shares of Centerra Gold in a report on Friday, April 4th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Centerra Gold in a research note on Tuesday, June 24th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $13.00.

Centerra Gold Stock Up 7.4%

The company's 50-day moving average is $7.11 and its 200-day moving average is $6.55. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 0.36 and a beta of 0.81.

Centerra Gold (NYSE:CGAU - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. Centerra Gold had a return on equity of 8.71% and a net margin of 3.68%. The firm had revenue of $299.50 million for the quarter, compared to the consensus estimate of $288.25 million. Sell-side analysts anticipate that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date was Thursday, May 22nd. Centerra Gold's dividend payout ratio is currently 105.26%.

Institutional Investors Weigh In On Centerra Gold

A number of institutional investors have recently added to or reduced their stakes in CGAU. Raymond James Financial Inc. purchased a new stake in Centerra Gold in the 4th quarter valued at approximately $268,000. Quantbot Technologies LP lifted its holdings in Centerra Gold by 56.9% in the 4th quarter. Quantbot Technologies LP now owns 90,664 shares of the company's stock valued at $516,000 after purchasing an additional 32,868 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of 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 buying an additional 836,777 shares during the period. Vanguard Group Inc. lifted its stake in shares of Centerra Gold by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 8,254,618 shares of the company's stock worth $46,977,000 after purchasing an additional 76,544 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new position in Centerra Gold during the fourth quarter worth about $244,000. Hedge funds and other 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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