Centerra Gold (NYSE:CGAU) Reaches New 12-Month Low – Here’s What Happened

Centerra Gold Inc. (NYSE:CGAU) reached a new 52-week low on Monday . The stock traded as low as $5.46 and last traded at $5.51, with a volume of 726373 shares. The stock had previously closed at $5.76.

Wall Street Analyst Weigh In

CGAU has been the topic of a number of research analyst reports. Scotiabank lowered their target price on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a report on Wednesday, January 15th. Desjardins lowered shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 13th. Finally, Cormark downgraded shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $11.00.

Centerra Gold Trading Down 4.6 %

The company has a market cap of $1.16 billion, a price-to-earnings ratio of 15.27 and a beta of 0.92. The company has a fifty day moving average price of $6.10 and a two-hundred day moving average price of $6.43.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The business had revenue of $302.40 million for the quarter, compared to analyst estimates of $316.92 million. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. Sell-side analysts anticipate that Centerra Gold Inc. will post 0.59 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 5.09%. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Thursday, March 13th. Centerra Gold’s payout ratio is presently 52.78%.

Institutional Investors Weigh In On Centerra Gold

Large investors have recently modified their holdings of the stock. Vise Technologies Inc. bought a new stake in Centerra Gold in the fourth quarter valued at $58,000. SG Americas Securities LLC acquired a new stake in shares of Centerra Gold during the 4th quarter worth about $59,000. Massachusetts Financial Services Co. MA bought a new position in Centerra Gold during the 4th quarter valued at about $60,000. Susquehanna Advisors Group Inc. bought a new stake in Centerra Gold during the 4th quarter worth approximately $61,000. Finally, Capstone Investment Advisors LLC acquired a new position in Centerra Gold in the third quarter worth $89,000. 55.40% of the stock is currently owned by institutional investors.

About Centerra Gold

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.