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

Key Points

• Centerra Gold shares crossed above their 200-day moving average, reaching C$32.12 and closing at C$31.51, compared with a 200-day average of C$25.41.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” from eight analysts and an average price target of C$28.17; TD raised its target to C$32 and maintained a buy rating.
• The company reported C$0.55 in quarterly EPS on C$629 million in revenue and pays a quarterly dividend of C$0.07, while insider activity was mixed: a director bought shares and another insider sold 57,636 shares.

Centerra Gold Inc. (TSE:CG - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$25.41 and traded as high as C$32.12. Centerra Gold shares last traded at C$31.51, with a volume of 742,402 shares changing hands.

Analyst Upgrades and Downgrades

CG has been the subject of several recent research reports. Raymond James Financial increased their price objective on Centerra Gold from C$28.00 to C$29.00 and gave the stock a "market perform" rating in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce increased their price objective on Centerra Gold from C$37.00 to C$38.00 in a report on Thursday, July 30th. ATB Cormark Capital Markets lifted their target price on shares of Centerra Gold from C$26.00 to C$27.00 and gave the company a "sector perform" rating in a research note on Thursday, July 30th. Finally, TD lifted their price objective on shares of Centerra Gold from C$31.00 to C$32.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of C$28.17.

Centerra Gold Stock Down 0.7%

The company has a debt-to-equity ratio of 2.11, a quick ratio of 3.24 and a current ratio of 2.42. The company has a market capitalization of C$6.16 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 1.26 and a beta of 1.96. The firm's 50-day simple moving average is C$27.06 and its 200-day simple moving average is C$25.41.

Centerra Gold (TSE:CG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported C$0.55 EPS for the quarter. The business had revenue of C$629.00 million during the quarter. Centerra Gold had a net margin of 37.72% and a return on equity of 30.90%.

Centerra Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, September 2nd were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, August 19th. Centerra Gold's dividend payout ratio is presently 6.45%.

Insider Buying and Selling at Centerra Gold

In other Centerra Gold news, Director Wendy Wai Ting Kei purchased 1,000 shares of the stock in a transaction on Thursday, August 13th. The shares were purchased at an average price of C$29.76 per share, with a total value of C$29,760.00. Following the acquisition, the director directly owned 5,172 shares of the company's stock, valued at C$153,918.72. This represents a 23.97% increase in their position. Also, insider Yousef Rehman sold 57,636 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of C$33.50, for a total transaction of C$1,930,806.00. Following the completion of the transaction, the insider owned 77,918 shares of the company's stock, valued at approximately C$2,610,253. This represents a 42.52% decrease in their position. 0.21% of the stock is owned by company insiders.

About Centerra Gold

Centerra Gold Inc is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. The Company also owns the Kemess Project in British Columbia, Canada, the Goldfield Project in Nevada, United States, and owns and operates the Molybdenum Business Unit in the United States and Canada.

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