Centerra Gold (TSE:CG) Stock Crosses Above 200-Day Moving Average - Here's Why

Shares of Centerra Gold Inc. (TSE:CG - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$8.78 and traded as high as C$9.90. Centerra Gold shares last traded at C$9.72, with a volume of 1,277,327 shares traded.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CG. Desjardins lowered Centerra Gold from a "buy" rating to a "hold" rating and cut their price objective for the stock from C$12.75 to C$11.00 in a research report on Thursday, February 13th. TD Securities cut their price objective on Centerra Gold from C$13.00 to C$12.00 and set a "buy" rating on the stock in a research report on Friday, March 7th. Cibc World Mkts upgraded Centerra Gold from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 27th. Cormark lowered Centerra Gold from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, National Bankshares lifted their price target on Centerra Gold from C$12.00 to C$12.50 and gave the company an "outperform" rating in a research report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of C$11.83.

Centerra Gold Stock Down 0.9%

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$1.47 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 1.26 and a beta of 1.23. The company has a 50-day moving average of C$9.21 and a two-hundred day moving average of C$8.81.

Centerra Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, June 5th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.87%. The ex-dividend date is Thursday, May 22nd. Centerra Gold's dividend payout ratio (DPR) is 40.58%.

Insiders Place Their Bets

In other news, Senior Officer Claudia D'orazio sold 3,831 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of C$8.28, for a total transaction of C$31,720.68. Also, Director Paul Botond Stilicho Tomory sold 8,563 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of C$8.28, for a total value of C$70,901.64. Corporate insiders own 0.21% of the company's stock.

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.