Centerra Gold (NYSE:CGAU) Hits New 12-Month High – Here’s Why

Centerra Gold Inc. (NYSE:CGAU) reached a new 52-week high on Friday . The company traded as high as $20.47 and last traded at $20.3640, with a volume of 301561 shares trading hands. The stock had previously closed at $20.07.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wall Street Zen lowered Centerra Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Scotiabank upped their target price on Centerra Gold from $13.50 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. BMO Capital Markets upgraded shares of Centerra Gold from a “hold” rating to an “outperform” rating in a research report on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of Centerra Gold in a report on Monday, December 29th. Finally, Zacks Research raised shares of Centerra Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $16.00.

Centerra Gold Trading Up 5.0%

The company has a quick ratio of 1.65, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. The firm’s fifty day moving average is $17.16 and its two-hundred day moving average is $13.08. The firm has a market cap of $4.21 billion, a P/E ratio of 7.42, a PEG ratio of 0.47 and a beta of 0.88.

Centerra Gold (NYSE:CGAU) last posted its earnings results on Thursday, February 19th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. The firm had revenue of $401.60 million during the quarter, compared to analysts’ expectations of $355.39 million. Centerra Gold had a net margin of 42.18% and a return on equity of 12.42%. Analysts predict that Centerra Gold Inc. will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, March 12th. Centerra Gold’s payout ratio is presently 7.04%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CGAU. Janney Montgomery Scott LLC boosted its position in shares of Centerra Gold by 2.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 24,860 shares of the company’s stock valued at $357,000 after purchasing an additional 575 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Centerra Gold by 2.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 36,939 shares of the company’s stock valued at $531,000 after buying an additional 747 shares during the period. Burkett Financial Services LLC lifted its position in Centerra Gold by 27.5% during the fourth quarter. Burkett Financial Services LLC now owns 3,569 shares of the company’s stock valued at $51,000 after buying an additional 769 shares during the period. CWM LLC boosted its holdings in shares of Centerra Gold by 5.3% during the 4th quarter. CWM LLC now owns 16,300 shares of the company’s stock valued at $234,000 after buying an additional 820 shares in the last quarter. Finally, Osaic Holdings Inc. grew its position in shares of Centerra Gold by 63.0% in the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock worth $34,000 after buying an additional 1,839 shares during the period. Institutional investors own 55.40% of the company’s stock.

About Centerra Gold

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.