Centerra Gold (NYSE:CGAU) Stock Price Down 10.2% – Should You Sell?

Centerra Gold Inc. (NYSE:CGAU)’s stock price traded down 10.2% during mid-day trading on Friday . The company traded as low as $17.60 and last traded at $17.5310. 518,822 shares were traded during trading, a decline of 74% from the average session volume of 2,032,304 shares. The stock had previously closed at $19.52.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CGAU shares. Scotiabank lifted their price target on shares of Centerra Gold from $13.50 to $19.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Raymond James Financial restated a “market perform” rating on shares of Centerra Gold in a research note on Thursday, October 30th. Cormark upgraded Centerra Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded Centerra Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Centerra Gold in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Centerra Gold has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Centerra Gold Trading Down 14.3%

The firm has a market cap of $3.34 billion, a P/E ratio of 10.20, a P/E/G ratio of 0.50 and a beta of 0.87. The stock has a 50 day simple moving average of $15.10 and a 200-day simple moving average of $11.49. The company has a current ratio of 2.89, a quick ratio of 2.10 and a debt-to-equity ratio of 0.02.

Institutional Trading of Centerra Gold

A number of large investors have recently made changes to their positions in the business. Burkett Financial Services LLC purchased a new position in Centerra Gold in the third quarter worth about $30,000. TD Waterhouse Canada Inc. boosted its holdings in shares of Centerra Gold by 1,106.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 2,980 shares of the company’s stock worth $33,000 after purchasing an additional 2,733 shares during the period. Farther Finance Advisors LLC purchased a new position in shares of Centerra Gold in the 2nd quarter worth approximately $27,000. Osaic Holdings Inc. increased its position in shares of Centerra Gold by 63.0% during the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock valued at $34,000 after purchasing an additional 1,839 shares during the last quarter. Finally, State of Wyoming purchased a new stake in Centerra Gold during the 3rd quarter valued at $90,000. 55.40% of the stock is currently owned by institutional investors.

Centerra Gold Company Profile

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.