Centerra Gold (NYSE:CGAU) Sets New 1-Year High at $6.85

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $6.85 and last traded at $6.69, with a volume of 78924 shares traded. The stock had previously closed at $6.50.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CGAU shares. BMO Capital Markets initiated coverage on Centerra Gold in a research note on Wednesday, February 21st. They issued an "outperform" rating on the stock. CIBC upped their target price on shares of Centerra Gold from $9.50 to $11.00 and gave the stock an "outperformer" rating in a research report on Monday, April 15th. Finally, National Bank Financial reissued an "outperform overweight" rating on shares of Centerra Gold in a report on Monday, April 8th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $9.78.

Centerra Gold Trading Up 0.5 %

The company has a 50 day simple moving average of $6.00 and a 200-day simple moving average of $5.70. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -17.76 and a beta of 0.94.

Centerra Gold (NYSE:CGAU - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). The firm had revenue of $340.00 million for the quarter. Centerra Gold had a negative net margin of 7.43% and a positive return on equity of 0.62%. Equities analysts forecast that Centerra Gold Inc. will post 0.55 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 13th were given a dividend of $0.0518 per share. The ex-dividend date was Tuesday, March 12th. This represents a $0.21 dividend on an annualized basis and a yield of 3.17%. This is a boost from Centerra Gold's previous quarterly dividend of $0.05. Centerra Gold's dividend payout ratio is -56.76%.

Hedge Funds Weigh In On Centerra Gold

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CM Management LLC boosted its position in shares of Centerra Gold by 66.7% during the 1st quarter. CM Management LLC now owns 250,000 shares of the company's stock worth $1,478,000 after purchasing an additional 100,000 shares in the last quarter. Nokomis Capital L.L.C. bought a new position in shares of Centerra Gold during the 1st quarter worth about $3,177,000. Donald Smith & CO. Inc. lifted its position in Centerra Gold by 8.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 10,747,290 shares of the company's stock valued at $63,516,000 after acquiring an additional 867,334 shares in the last quarter. Acadian Asset Management LLC lifted its position in Centerra Gold by 309.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,275,800 shares of the company's stock valued at $7,527,000 after acquiring an additional 964,294 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its position in Centerra Gold by 10.9% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,949,795 shares of the company's stock valued at $17,425,000 after acquiring an additional 289,795 shares in the last quarter. Institutional investors own 55.40% 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.