Centerra Gold (NYSE:CGAU) Shares Gap Up to $5.95

Centerra Gold Inc. (NYSE:CGAU - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $5.95, but opened at $6.13. Centerra Gold shares last traded at $6.06, with a volume of 193,475 shares trading hands.

Analyst Ratings Changes

CGAU has been the topic of several research reports. BMO Capital Markets started coverage on shares of Centerra Gold in a research report on Wednesday, February 21st. They issued an "outperform" rating on the stock. Raymond James dropped their price target on Centerra Gold from $12.00 to $11.00 and set an "outperform" rating for the company in a research report on Friday, December 29th. CIBC upped their price objective on Centerra Gold from $9.50 to $11.00 and gave the company an "outperformer" rating in a research report on Monday. Finally, National Bank Financial reiterated an "outperform overweight" rating on shares of Centerra Gold in a research report on Monday, April 8th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Centerra Gold presently has an average rating of "Buy" and an average price target of $9.78.

Centerra Gold Price Performance

The firm has a market cap of $1.30 billion, a PE ratio of -16.38 and a beta of 0.98. The stock has a 50-day moving average price of $5.56 and a 200 day moving average price of $5.51.

Centerra Gold (NYSE:CGAU - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). The business had revenue of $340.00 million during the quarter. Centerra Gold had a negative net margin of 7.43% and a positive return on equity of 0.62%. As a group, equities research analysts anticipate that Centerra Gold Inc. will post 0.51 earnings per share for the current year.

Centerra Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 13th were issued a $0.0518 dividend. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date was Tuesday, March 12th. This is a positive change from Centerra Gold's previous quarterly dividend of $0.05. Centerra Gold's dividend payout ratio (DPR) is -40.54%.

Institutional Trading of Centerra Gold

A number of institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its position in Centerra Gold by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 160,838 shares of the company's stock valued at $964,000 after buying an additional 2,402 shares in the last quarter. Geode Capital Management LLC boosted its position in Centerra Gold by 3.6% during the 2nd quarter. Geode Capital Management LLC now owns 83,523 shares of the company's stock worth $501,000 after purchasing an additional 2,920 shares during the period. Great West Life Assurance Co. Can increased its holdings in Centerra Gold by 22.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 17,373 shares of the company's stock valued at $104,000 after purchasing an additional 3,223 shares in the last quarter. CIBC Asset Management Inc raised its position in Centerra Gold by 1.8% in the third quarter. CIBC Asset Management Inc now owns 207,198 shares of the company's stock valued at $1,016,000 after purchasing an additional 3,640 shares during the period. Finally, Legal & General Group Plc raised its position in Centerra Gold by 1.0% in the third quarter. Legal & General Group Plc now owns 399,671 shares of the company's stock valued at $1,963,000 after purchasing an additional 4,151 shares during the period. 55.40% of the stock is currently owned by institutional investors and hedge funds.

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.