Centerra Gold (TSE:CG) Sets New 1-Year High - Here's What Happened

Key Points

• Centerra Gold's share price recently hit a new 52-week high of C$11.83, with a current price of C$11.64 and a trading volume of 943,403 shares.
• BMO Capital Markets downgraded Centerra Gold from a "strong-buy" to a "hold" rating with a reduced target price of C$10.00, while other analysts raised their price targets, reflecting mixed sentiment on the stock.
• The company announced a quarterly dividend of $0.07 per share, with an upcoming payment date of September 4th, representing an annualized dividend yield of 2.4%.

Centerra Gold Inc. (TSE:CG - Get Free Report)'s share price reached a new 52-week high on Thursday . The stock traded as high as C$11.83 and last traded at C$11.64, with a volume of 943403 shares changing hands. The stock had previously closed at C$11.66.

Wall Street Analyst Weigh In

CG has been the subject of several research reports. BMO Capital Markets downgraded Centerra Gold from a "strong-buy" rating to a "hold" rating and reduced their target price for the company from C$14.00 to C$10.00 in a report on Friday, August 8th. Raymond James Financial boosted their price objective on shares of Centerra Gold from C$13.00 to C$13.50 in a report on Thursday, August 21st. Cibc World Mkts raised shares of Centerra Gold from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. Finally, Royal Bank Of Canada increased their price target on shares of Centerra Gold from C$12.00 to C$13.00 in a research report on Wednesday, June 4th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of C$11.76.

Centerra Gold Trading Down 0.2%

The firm has a market capitalization of C$2.37 billion, a PE ratio of 34.24, a P/E/G ratio of 1.26 and a beta of 1.28. 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 fifty day moving average price is C$10.12 and its 200 day moving average price is C$9.50.

Centerra Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, August 21st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.4%. Centerra Gold's payout ratio is 59.31%.

About Centerra Gold

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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