Centerra Gold (TSE:CG) Reaches New 12-Month High - Here's Why

Key Points

• Centerra Gold Inc. reached a new 52-week high during trading, peaking at C$12.44 before closing at C$12.24 with a trading volume of over 1.88 million shares.
• Equities analysts have mixed opinions on the stock, with Royal Bank of Canada increasing its price target to C$13.00, while BMO Capital Markets lowered their target significantly from C$14.00 to C$10.00.
• The company declared a quarterly dividend of $0.07 per share, with an annualized yield of 2.3% and a dividend payout ratio of 59.31%.

Shares of Centerra Gold Inc. (TSE:CG - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as C$12.44 and last traded at C$12.24, with a volume of 1886172 shares traded. The stock had previously closed at C$12.28.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Cibc World Mkts upgraded Centerra Gold from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 27th. Raymond James Financial increased their target price on Centerra Gold from C$13.00 to C$13.50 in a research note on Thursday, August 21st. Royal Bank Of Canada lowered Centerra Gold from a "moderate buy" rating to a "hold" rating and raised their price target for the company from C$13.00 to C$14.00 in a research note on Wednesday. Finally, BMO Capital Markets lowered Centerra Gold from a "strong-buy" rating to a "hold" rating and cut their price target for the company from C$14.00 to C$10.00 in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Centerra Gold presently has an average rating of "Moderate Buy" and a consensus price target of C$11.90.

Centerra Gold Stock Performance

The firm has a 50-day moving average of C$10.44 and a two-hundred day moving average of C$9.66. The company has a quick ratio of 3.24, a current ratio of 3.60 and a debt-to-equity ratio of 1.26. The company has a market capitalization of C$2.60 billion, a PE ratio of 37.59, a PEG ratio of 1.26 and a beta of 1.24.

Centerra Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, September 4th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.2%. The ex-dividend date was Thursday, August 21st. Centerra Gold's dividend payout ratio (DPR) is currently 59.31%.

About Centerra Gold

Centerra Gold Inc is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye.