Centerra Gold (TSE:CG) Stock Passes Above 200 Day Moving Average - What's Next?

Key Points

• Centerra Gold shares crossed above their 200-day moving average, reaching C$31.45 before closing at C$30.63, compared with a 200-day average of C$25.61.
• Analyst sentiment is positive, with a consensus rating of “Moderate Buy” and an average price target of C$29.94; several firms recently raised their targets, including TD to C$32 and CIBC to C$38.
• The company reported quarterly EPS of C$0.55 on C$629 million in revenue and declared a quarterly dividend of $0.07 per share, representing a 0.9% yield.

Centerra Gold Inc. (TSE:CG - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$25.61 and traded as high as C$31.45. Centerra Gold shares last traded at C$30.63, with a volume of 995,383 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CG shares. TD increased their price objective on Centerra Gold from C$31.00 to C$32.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Raymond James Financial boosted their target price on Centerra Gold from C$28.00 to C$29.00 and gave the company a "market perform" rating in a research note on Thursday, July 30th. ATB Cormark Capital Markets upped their target price on Centerra Gold from C$26.00 to C$27.00 and gave the company a "sector perform" rating in a report on Thursday, July 30th. Finally, Canadian Imperial Bank of Commerce raised their price target on Centerra Gold from C$37.00 to C$38.00 in a research note on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Centerra Gold currently has a consensus rating of "Moderate Buy" and a consensus price target of C$29.94.

Centerra Gold Trading Down 0.4%

The company has a current ratio of 2.42, a quick ratio of 3.24 and a debt-to-equity ratio of 2.11. The company has a market cap of C$5.99 billion, a PE ratio of 9.79, a PEG ratio of 1.26 and a beta of 1.96. The stock has a 50 day moving average price of C$28.01 and a 200 day moving average price of C$25.61.

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

Centerra Gold Announces Dividend

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

Insider Activity

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