Centerra Gold (TSE:CG) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Centerra Gold's stock price rose above its 200-day moving average, trading at C$10.07, which is higher than the average of C$9.24.
• Analysts from Raymond James Financial and Royal Bank of Canada have increased their price targets for Centerra Gold, now set between C$13.00 and C$13.50.
• Centerra Gold recently announced a quarterly dividend of $0.07, yielding an annualized $0.28 or 2.78%, with a payout ratio of 40.58%.

Centerra Gold Inc. (TSE:CG - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$9.24 and traded as high as C$10.15. Centerra Gold shares last traded at C$10.07, with a volume of 485,023 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CG. 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. Raymond James Financial boosted their target price on Centerra Gold from C$12.00 to C$13.50 in a report on Friday, April 4th. Finally, Cibc World Mkts raised shares of Centerra Gold from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 27th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Centerra Gold currently has a consensus rating of "Moderate Buy" and a consensus target price of C$12.05.

Centerra Gold Price Performance

The company has a 50 day moving average price of C$9.88 and a 200 day moving average price of C$9.26. The company has a market capitalization of C$1.48 billion, a P/E ratio of 14.24, a P/E/G ratio of 1.26 and a beta of 1.23. The company has a current ratio of 3.60, a quick ratio of 3.24 and a debt-to-equity ratio of 1.26.

Centerra Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, June 5th were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.28 annualized dividend and a dividend yield of 2.85%. Centerra Gold's payout ratio is presently 40.58%.

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.