Centerra Gold (TSE:CG) Shares Down 4.1% - What's Next?

Key Points

• Centerra Gold's shares fell **4.1%** to C$9.94, significantly declining in trading volume by **85%** compared to its average daily volume.
• Analysts have raised the price target for Centerra Gold from **C$12.00 to C$13.00**, with the stock currently rated as a **"Moderate Buy"**.
• The company announced a quarterly dividend of **$0.07** per share with a yield of **2.8%**, payable on September 4th, reflecting a **40.58% dividend payout ratio**.

Centerra Gold Inc. (TSE:CG - Get Free Report)'s share price was down 4.1% during mid-day trading on Friday . The stock traded as low as C$9.83 and last traded at C$9.94. Approximately 113,763 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 759,430 shares. The stock had previously closed at C$10.37.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Cibc World Mkts raised shares of Centerra Gold from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. BMO Capital Markets lowered shares of Centerra Gold from a "strong-buy" rating to a "hold" rating and dropped their price objective for the stock from C$14.00 to C$10.00 in a research note on Friday. Finally, Royal Bank Of Canada lifted their target price on Centerra Gold from C$12.00 to C$13.00 in a research report on Wednesday, June 4th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Centerra Gold presently has an average rating of "Moderate Buy" and an average price target of C$11.76.

Centerra Gold Price Performance

The stock has a 50 day moving average price of C$9.89 and a two-hundred day moving average price of C$9.35. The firm has a market cap of C$1.47 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.26 and a beta of 1.23. The company has a quick ratio of 3.24, a current ratio of 3.60 and a debt-to-equity ratio of 1.26.

Centerra Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, September 4th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.28 dividend on an annualized basis and a yield of 2.9%. Centerra Gold's payout ratio is presently 40.58%.

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.