Centerra Gold (TSE:CG) Reaches New 52-Week High - Here's What Happened

Key Points

• Centerra Gold's stock reached a new 52-week high of C$14.95, closing at C$14.91 with a trading volume of 1,299,209 shares.
• Analysts have mixed ratings on Centerra Gold, with two calling it a Strong Buy, while others have rated it as a Hold or Buy, and average price targets ranging from C$12.47 to C$14.00.
• The company recently declared a quarterly dividend of $0.07 per share, reflecting an annualized dividend yield of 1.9% with a payout ratio of 59.31%.

Centerra Gold Inc. (TSE:CG - Get Free Report)'s share price reached a new 52-week high on Wednesday . The stock traded as high as C$14.95 and last traded at C$14.91, with a volume of 1299209 shares trading hands. The stock had previously closed at C$14.49.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CG shares. Royal Bank Of Canada downgraded shares of Centerra Gold from a "moderate buy" rating to a "hold" rating and lifted their price target for the company from C$13.00 to C$14.00 in a research note on Wednesday, September 10th. BMO Capital Markets lifted their price target on shares of Centerra Gold from C$10.00 to C$14.00 in a research note on Monday, September 15th. Finally, Raymond James Financial lifted their price target on shares of Centerra Gold from C$13.00 to C$13.50 in a research note on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$12.47.

Centerra Gold Stock Up 2.9%

The company has a market cap of C$3.03 billion, a P/E ratio of 43.85, a P/E/G ratio of 1.26 and a beta of 1.24. 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 business's 50 day moving average is C$11.29 and its 200 day moving average is C$10.10.

Centerra Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, September 4th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.9%. Centerra Gold's dividend payout ratio is presently 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.

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