Centerra Gold (TSE:CG) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Centerra Gold Inc. (TSE:CG) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$13.17 and traded as high as C$19.54. Centerra Gold shares last traded at C$19.07, with a volume of 818,340 shares traded.

Analysts Set New Price Targets

A number of research firms have recently commented on CG. Royal Bank Of Canada cut Centerra Gold from a “moderate buy” rating to a “hold” rating and raised their target price for the company from C$13.00 to C$14.00 in a research note on Wednesday, September 10th. Raymond James Financial increased their price objective on Centerra Gold from C$16.50 to C$16.75 and gave the stock a “market perform” rating in a report on Thursday, October 30th. CIBC boosted their target price on shares of Centerra Gold from C$20.00 to C$21.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. BMO Capital Markets increased their price target on shares of Centerra Gold from C$10.00 to C$14.00 in a research note on Monday, September 15th. Finally, Canaccord Genuity Group lifted their price target on shares of Centerra Gold from C$16.00 to C$19.50 in a research report on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$15.09.

Centerra Gold Stock Performance

The company has a current ratio of 3.60, a quick ratio of 3.24 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of C$3.85 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 1.26 and a beta of 1.59. The business’s 50 day simple moving average is C$17.13 and its two-hundred day simple moving average is C$13.17.

Centerra Gold (TSE:CG) last issued its earnings results on Tuesday, October 28th. The company reported C$1.43 earnings per share (EPS) for the quarter. The firm had revenue of C$550.23 million for the quarter. Centerra Gold had a net margin of 8.32% and a return on equity of 6.06%.

Centerra Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 26th were issued a $0.07 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. Centerra Gold’s dividend payout ratio (DPR) is presently 12.46%.

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.