Centerra Gold (NYSE:CGAU) Shares Gap Down - Here's Why

Key Points

• Centerra Gold shares fell 4.3%, opening at $21.10 after previously closing at $22.56. The stock last traded near $21.71.
• Analysts remain broadly positive, with five Buy ratings and two Holds, resulting in a “Moderate Buy” consensus and an average price target of $21.00.
• Centerra exceeded quarterly expectations, reporting $0.39 in earnings per share and $442.71 million in revenue, while paying a quarterly dividend of C$0.07 per share.

Shares of Centerra Gold Inc. (NYSE:CGAU - Get Free Report) gapped down prior to trading on Monday. The stock had previously closed at $22.56, but opened at $21.10. Centerra Gold shares last traded at $21.7140, with a volume of 79,139 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Scotiabank reiterated an "outperform" rating on shares of Centerra Gold in a research report on Tuesday, August 4th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Centerra Gold in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Centerra Gold from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 31st. Finally, Wall Street Zen cut shares of Centerra Gold from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $21.00.

Centerra Gold Trading Down 4.3%

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.42 and a quick ratio of 1.49. The business has a fifty day moving average of $21.10 and a 200-day moving average of $18.62. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 6.90, a price-to-earnings-growth ratio of 0.84 and a beta of 0.86.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. Centerra Gold had a net margin of 36.92% and a return on equity of 15.35%. The company had revenue of $442.71 million during the quarter, compared to the consensus estimate of $394.27 million. On average, equities analysts anticipate that Centerra Gold Inc. will post 1.63 earnings per share for the current fiscal year.

Centerra Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were paid a dividend of C$0.07 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.28 annualized dividend and a yield of 1.3%. Centerra Gold's dividend payout ratio is currently 6.39%.

Institutional Trading of Centerra Gold

Large investors have recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA increased its stake in shares of Centerra Gold by 3.5% during the 1st quarter. Pictet Asset Management Holding SA now owns 39,102 shares of the company's stock worth $693,000 after purchasing an additional 1,340 shares during the last quarter. Baron Wealth Management LLC lifted its stake in shares of Centerra Gold by 6.2% in the 1st quarter. Baron Wealth Management LLC now owns 27,602 shares of the company's stock valued at $491,000 after purchasing an additional 1,621 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Centerra Gold in the 2nd quarter valued at $28,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. boosted its holdings in Centerra Gold by 2.8% in the second quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 81,100 shares of the company's stock worth $1,281,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Kestra Advisory Services LLC boosted its holdings in Centerra Gold by 35.0% in the first quarter. Kestra Advisory Services LLC now owns 10,797 shares of the company's stock worth $192,000 after purchasing an additional 2,797 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors.

Centerra Gold Company Profile

Centerra Gold Inc is a Canadian-based mining company focused on the exploration, development, operation and reclamation of gold and copper properties. The company produces gold doré and copper concentrate for sale to commercial customers and also maintains mineral exploration and development activities in its operating regions.

Centerra's principal assets include the Mount Milligan copper-gold mine in British Columbia, Canada, and the Öksüt gold mine in central Türkiye. Mount Milligan is an open-pit mine and mill that produces copper concentrate containing gold, while Öksüt is an open-pit, heap-leach operation that produces gold doré.

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