Centerra Gold (TSE:CG) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Centerra Gold Inc. (TSE:CG)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$23.79 and traded as low as C$22.29. Centerra Gold shares last traded at C$22.92, with a volume of 1,493,197 shares changing hands.

Wall Street Analysts Forecast Growth

CG has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their price target on Centerra Gold from C$22.00 to C$31.00 in a report on Thursday, March 12th. Desjardins increased their price objective on shares of Centerra Gold from C$30.00 to C$33.00 and gave the stock a “hold” rating in a report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$27.36.

Centerra Gold Trading Down 0.2%

The company has a market cap of C$4.55 billion, a P/E ratio of 7.39, a P/E/G ratio of 1.26 and a beta of 1.76. The company has a quick ratio of 3.24, a current ratio of 2.41 and a debt-to-equity ratio of 2.09. The business has a 50-day moving average price of C$23.83 and a two-hundred day moving average price of C$23.79.

Centerra Gold (TSE:CG) last posted its quarterly earnings results on Wednesday, April 29th. The company reported C$0.61 earnings per share (EPS) for the quarter. The business had revenue of C$673.87 million for the quarter. Centerra Gold had a return on equity of 32.55% and a net margin of 41.28%.

Centerra Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, June 4th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. Centerra Gold’s dividend payout ratio is presently 6.52%.

Insider Activity

In related news, Director Eric Dell sold 7,827 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of C$22.97, for a total transaction of C$179,786.19. Also, Director Paul Nicholas Wright acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average price of C$22.31 per share, for a total transaction of C$111,550.00. Following the completion of the acquisition, the director directly owned 130,000 shares of the company’s stock, valued at C$2,900,300. This trade represents a 4.00% increase in their ownership of the stock. Insiders sold a total of 10,252 shares of company stock worth $235,442 in the last ninety days. Insiders own 0.21% of the company’s stock.

Centerra Gold Company Profile

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. The Company also owns the Goldfield District Project in Nevada, United States, the Kemess Project in British Columbia, Canada, and owns and operates the Molybdenum Business Unit in the United States and Canada.