Centerra Gold (NYSE:CGAU) Shares Gap Up to $6.90

Centerra Gold Inc. (NYSE:CGAU)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $6.90, but opened at $7.06. Centerra Gold shares last traded at $6.95, with a volume of 114,173 shares changing hands.

Analyst Upgrades and Downgrades

CGAU has been the subject of several recent analyst reports. Cibc World Mkts lowered Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. CIBC reissued a “neutral” rating and issued a $13.00 price target (up previously from $11.00) on shares of Centerra Gold in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.80.

Centerra Gold Price Performance

The firm’s 50 day moving average is $6.82 and its 200 day moving average is $6.56. The company has a market capitalization of $1.48 billion, a PE ratio of 25.67 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.16 by $0.07. The firm had revenue of $282.31 million during the quarter. Centerra Gold had a net margin of 10.68% and a return on equity of 10.72%. During the same period last year, the company posted ($0.20) earnings per share. As a group, analysts predict that Centerra Gold Inc. will post 0.81 EPS for the current fiscal year.

Centerra Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a $0.051 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.94%. Centerra Gold’s dividend payout ratio is currently 74.07%.

Institutional Trading of Centerra Gold

Several large investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd purchased a new stake in Centerra Gold in the fourth quarter worth about $98,000. Trexquant Investment LP lifted its stake in shares of Centerra Gold by 330.4% in the 4th quarter. Trexquant Investment LP now owns 67,298 shares of the company’s stock valued at $401,000 after purchasing an additional 51,663 shares during the period. TD Asset Management Inc boosted its position in shares of Centerra Gold by 137.9% during the fourth quarter. TD Asset Management Inc now owns 1,369,548 shares of the company’s stock valued at $8,216,000 after purchasing an additional 793,913 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its stake in Centerra Gold by 82.1% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 85,148 shares of the company’s stock worth $507,000 after purchasing an additional 38,384 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in Centerra Gold by 2.1% in the fourth quarter. CIBC Asset Management Inc now owns 211,525 shares of the company’s stock worth $1,267,000 after purchasing an additional 4,327 shares in the last quarter. Institutional investors own 55.40% of the company’s stock.

About Centerra Gold

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.