Centerra Gold (NYSE:CGAU) Sees Unusually-High Trading Volume

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 378,756 shares traded hands during trading, a decline of 3% from the previous session's volume of 392,305 shares.The stock last traded at $6.25 and had previously closed at $6.13.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CGAU shares. BMO Capital Markets started coverage on Centerra Gold in a report on Wednesday, February 21st. They set an "outperform" rating on the stock. National Bank Financial reissued an "outperform overweight" rating on shares of Centerra Gold in a report on Monday. Finally, Raymond James lowered their price target on Centerra Gold from $12.00 to $11.00 and set an "outperform" rating on the stock in a report on Friday, December 29th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $9.78.

Centerra Gold Price Performance

The stock has a fifty day simple moving average of $5.50 and a two-hundred day simple moving average of $5.48.

Centerra Gold (NYSE:CGAU - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.01). Centerra Gold had a negative net margin of 7.43% and a positive return on equity of 0.62%. The company had revenue of $340.00 million for the quarter. As a group, equities research analysts forecast that Centerra Gold Inc. will post 0.6 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were given a dividend of $0.0518 per share. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.45%. This is an increase from Centerra Gold's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, March 12th. Centerra Gold's dividend payout ratio (DPR) is presently -54.05%.

Institutional Investors Weigh In On Centerra Gold

A number of hedge funds and other institutional investors have recently modified their holdings of CGAU. The Manufacturers Life Insurance Company raised its position in shares of Centerra Gold by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 160,838 shares of the company's stock worth $964,000 after purchasing an additional 2,402 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 last quarter. Great West Life Assurance Co. Can raised its position in shares of Centerra Gold by 22.8% during the 2nd quarter. Great West Life Assurance Co. Can now owns 17,373 shares of the company's stock worth $104,000 after purchasing an additional 3,223 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Centerra Gold by 1.8% during the 3rd quarter. CIBC Asset Management Inc now owns 207,198 shares of the company's stock worth $1,016,000 after purchasing an additional 3,640 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Centerra Gold by 1.0% during the 3rd quarter. Legal & General Group Plc now owns 399,671 shares of the company's stock worth $1,963,000 after purchasing an additional 4,151 shares during the last quarter. 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.