Centerra Gold (NYSE:CGAU) Sets New 52-Week High – Here’s Why

by · The Cerbat Gem

Shares of Centerra Gold Inc. (NYSE:CGAUGet Free Report) reached a new 52-week high on Monday . The stock traded as high as $15.94 and last traded at $15.9510, with a volume of 109734 shares traded. The stock had previously closed at $15.36.

Analyst Ratings Changes

CGAU has been the subject of a number of research reports. Wall Street Zen raised shares of Centerra Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Centerra Gold in a report on Monday, December 29th. Cormark raised Centerra Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, October 30th. BMO Capital Markets restated a “market perform” rating on shares of Centerra Gold in a research report on Monday, September 15th. Finally, Scotiabank reiterated an “outperform” rating on shares of Centerra Gold in a report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.17.

Read Our Latest Research Report on Centerra Gold

Centerra Gold Stock Up 3.4%

The company has a quick ratio of 2.10, a current ratio of 2.89 and a debt-to-equity ratio of 0.02. The stock has a market cap of $3.21 billion, a P/E ratio of 9.68, a P/E/G ratio of 0.44 and a beta of 0.87. The company has a 50-day simple moving average of $13.37 and a two-hundred day simple moving average of $10.43.

Centerra Gold (NYSE:CGAUGet Free Report) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. The business had revenue of $395.20 million for the quarter, compared to analyst estimates of $314.74 million. Centerra Gold had a net margin of 26.35% and a return on equity of 10.47%. On average, equities analysts forecast that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Thursday, November 13th. Centerra Gold’s payout ratio is presently 11.59%.

Institutional Investors Weigh In On Centerra Gold

Several hedge funds have recently made changes to their positions in CGAU. Cubist Systematic Strategies LLC bought a new position in shares of Centerra Gold during the first quarter valued at $192,000. Dynamic Technology Lab Private Ltd purchased a new position in Centerra Gold in the 1st quarter worth about $97,000. Goldman Sachs Group Inc. raised its position in Centerra Gold by 57.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock worth $84,739,000 after buying an additional 4,853,494 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Centerra Gold during the 1st quarter valued at about $218,000. Finally, Baron Wealth Management LLC purchased a new stake in shares of Centerra Gold during the 2nd quarter valued at about $167,000. 55.40% of the stock is currently owned by institutional investors.

Centerra Gold Company Profile

(Get Free Report)

Centerra Gold Inc is a gold mining company incorporated in Canada and headquartered in Toronto. The company specializes in the exploration, development and operation of precious metals properties, with a focus on gold production. Centerra’s portfolio includes the Mount Milligan mine in British Columbia, Canada, and the Otjikoto mine in Namibia. Both operations produce gold and copper concentrates and employ modern mining methods and processing facilities to optimize recovery rates and minimize environmental impact.

In addition to its producing assets, Centerra is advancing the development of its Greenstone Gold Project in Ontario, Canada, which, upon completion, is expected to become one of Canada’s largest gold mines.

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