Centerra Gold (TSE:CG) Reaches New 1-Year High – Here’s What Happened

by · The Markets Daily

Shares of Centerra Gold Inc. (TSE:CG – Get Free Report) hit a new 52-week high on Monday . The company traded as high as C$10.56 and last traded at C$10.51, with a volume of 266571 shares trading hands. The stock had previously closed at C$10.31.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CG. CIBC lowered Centerra Gold from an “outperform” rating to a “neutral” rating and upped their target price for the company from C$11.00 to C$13.00 in a research report on Wednesday, July 10th. Raymond James lowered their price objective on shares of Centerra Gold from C$13.50 to C$13.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Cibc World Mkts cut Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, Canaccord Genuity Group increased their price objective on Centerra Gold from C$11.50 to C$12.50 in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$11.83.

Read Our Latest Analysis on CG

Centerra Gold Price Performance

The company has a 50-day moving average of C$9.59 and a 200 day moving average of C$9.24. The company has a quick ratio of 3.24, a current ratio of 3.79 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of C$2.19 billion, a PE ratio of 12.26, a PEG ratio of 1.26 and a beta of 1.23.

Centerra Gold (TSE:CG – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.31 EPS for the quarter, topping analysts’ consensus estimates of C$0.22 by C$0.09. The firm had revenue of C$386.27 million for the quarter. Centerra Gold had a return on equity of 7.98% and a net margin of 10.69%. Sell-side analysts predict that Centerra Gold Inc. will post 0.8633157 EPS for the current year.

Centerra Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.07 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.28 annualized dividend and a yield of 2.72%. Centerra Gold’s dividend payout ratio (DPR) is 33.33%.

Insider Buying and Selling

In other news, Senior Officer Claudia D’orazio sold 29,388 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of C$10.20, for a total value of C$299,757.60. In related news, Senior Officer Claudia D’orazio sold 29,388 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of C$10.20, for a total transaction of C$299,757.60. Also, Senior Officer Yousef Rehman sold 71,419 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of C$10.03, for a total transaction of C$716,332.57. Corporate insiders own 0.21% of the company’s stock.

About Centerra Gold

(Get Free Report)

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.

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