Centerra Gold (NYSE:CGAU) Sees Strong Trading Volume

Shares of Centerra Gold Inc. (NYSE:CGAU) saw an uptick in trading volume on Friday . 378,756 shares changed hands during mid-day trading, a decline of 3% from the previous session’s volume of 392,305 shares.The stock last traded at $6.25 and had previously closed at $6.13.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CGAU. National Bank Financial reissued an “outperform overweight” rating on shares of Centerra Gold in a report on Monday, April 8th. Raymond James decreased their price target on shares of Centerra Gold from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, December 29th. Finally, BMO Capital Markets began coverage on shares of Centerra Gold in a report on Wednesday, February 21st. They issued an “outperform” rating on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Centerra Gold currently has a consensus rating of “Buy” and a consensus price target of $9.78.

Centerra Gold Trading Down 2.3 %

The company’s fifty day moving average is $5.51 and its 200 day moving average is $5.49. The company has a market cap of $1.29 billion, a P/E ratio of -16.19 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last released its earnings results on Thursday, February 22nd. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). Centerra Gold had a negative net margin of 7.43% and a positive return on equity of 0.62%. The business had revenue of $340.00 million for the quarter. Analysts anticipate that Centerra Gold Inc. will post 0.51 EPS for the current year.

Centerra Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 13th were issued a dividend of $0.0518 per share. The ex-dividend date was Tuesday, March 12th. This represents a $0.21 annualized dividend and a dividend yield of 3.46%. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio (DPR) is currently -54.05%.

Hedge Funds Weigh In On Centerra Gold

Several institutional investors and hedge funds have recently made changes to their positions in the business. Intact Investment Management Inc. boosted its position in Centerra Gold by 521.3% during the 2nd quarter. Intact Investment Management Inc. now owns 3,614,670 shares of the company’s stock valued at $21,666,000 after buying an additional 3,032,870 shares during the period. Donald Smith & CO. Inc. boosted its position in Centerra Gold by 27.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 9,879,956 shares of the company’s stock valued at $58,885,000 after buying an additional 2,156,920 shares during the period. Maple Rock Capital Partners Inc. purchased a new stake in Centerra Gold during the 1st quarter valued at $12,918,000. Arrowstreet Capital Limited Partnership purchased a new stake in Centerra Gold during the 4th quarter valued at $9,363,000. Finally, Pale Fire Capital SE boosted its position in Centerra Gold by 1,136.9% during the 4th quarter. Pale Fire Capital SE now owns 1,807,787 shares of the company’s stock valued at $10,774,000 after buying an additional 1,661,638 shares during the period. Institutional investors own 55.40% of the company’s stock.

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.