Centerra Gold (TSE:CG) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Centerra Gold Inc. (TSE:CG) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$8.85 and traded as high as C$9.55. Centerra Gold shares last traded at C$9.54, with a volume of 976,172 shares changing hands.

Analyst Ratings Changes

CG has been the subject of several research analyst reports. Royal Bank of Canada reduced their price objective on Centerra Gold from C$12.00 to C$11.00 in a research note on Tuesday, January 7th. Raymond James boosted their target price on shares of Centerra Gold from C$12.00 to C$13.50 in a research report on Friday, April 4th. Cormark lowered Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, February 26th. TD Securities decreased their price target on Centerra Gold from C$13.00 to C$12.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Finally, National Bank Financial upgraded Centerra Gold to a “strong-buy” rating in a research report on Friday, March 21st. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$12.09.

Centerra Gold Stock Performance

The stock has a market capitalization of C$1.43 billion, a PE ratio of 13.84, a PEG ratio of 1.26 and a beta of 1.23. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.60 and a quick ratio of 3.24. The business has a 50 day moving average price of C$8.76 and a 200 day moving average price of C$8.85.

Centerra Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 27th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.93%. The ex-dividend date was Thursday, March 13th. Centerra Gold’s dividend payout ratio is currently 40.58%.

Insider Activity at Centerra Gold

In other news, Senior Officer Claudia D’orazio sold 3,831 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of C$8.28, for a total transaction of C$31,720.68. Also, Director Paul Nicholas Wright purchased 35,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were bought at an average cost of C$8.11 per share, for a total transaction of C$283,752.00. 0.21% of the stock is currently owned by insiders.

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.