Centerra Gold (NYSE:CGAU) Shares Gap Down – Should You Sell?

Centerra Gold Inc. (NYSE:CGAU)’s share price gapped down prior to trading on Friday . The stock had previously closed at $7.08, but opened at $6.77. Centerra Gold shares last traded at $6.59, with a volume of 191,026 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CGAU shares. Desjardins upgraded shares of Centerra Gold to a “moderate buy” rating in a report on Thursday. CIBC reiterated a “neutral” rating and set a $13.00 target price (up previously from $11.00) on shares of Centerra Gold in a research report on Wednesday, July 10th. Finally, Cibc World Mkts downgraded Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Centerra Gold Stock Performance

The company has a market capitalization of $1.38 billion, a PE ratio of 10.35 and a beta of 0.98. The company’s 50-day simple moving average is $7.09 and its 200-day simple moving average is $6.86.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.07. The firm had revenue of $282.31 million for the quarter. Centerra Gold had a return on equity of 10.72% and a net margin of 10.68%. During the same period in the prior year, the business earned ($0.20) EPS. Analysts expect that Centerra Gold Inc. will post 0.84 EPS for the current year.

Centerra Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $0.052 dividend. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Wednesday, November 13th. Centerra Gold’s dividend payout ratio (DPR) is 31.75%.

Hedge Funds Weigh In On Centerra Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of CGAU. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Centerra Gold by 7.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 174,426 shares of the company’s stock worth $1,142,000 after acquiring an additional 12,257 shares during the period. Heartland Advisors Inc. lifted its position in Centerra Gold by 2.8% in the first quarter. Heartland Advisors Inc. now owns 2,256,800 shares of the company’s stock valued at $13,338,000 after purchasing an additional 62,300 shares during the period. Russell Investments Group Ltd. boosted its holdings in Centerra Gold by 80.0% in the 1st quarter. Russell Investments Group Ltd. now owns 117,034 shares of the company’s stock valued at $692,000 after purchasing an additional 52,014 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its position in Centerra Gold by 10.9% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,949,795 shares of the company’s stock worth $17,425,000 after purchasing an additional 289,795 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of Centerra Gold by 309.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,275,800 shares of the company’s stock worth $7,527,000 after buying an additional 964,294 shares in the last quarter. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Centerra Gold Company Profile

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.