Centerra Gold (NYSE:CGAU) Shares Gap Up to $5.95

Centerra Gold Inc. (NYSE:CGAU) gapped up before the market opened on Wednesday . The stock had previously closed at $5.95, but opened at $6.13. Centerra Gold shares last traded at $6.06, with a volume of 193,475 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CGAU shares. National Bank Financial restated an “outperform overweight” rating on shares of Centerra Gold in a research report on Monday, April 8th. CIBC lifted their price objective on Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a report on Monday. BMO Capital Markets initiated coverage on Centerra Gold in a report on Wednesday, February 21st. They issued an “outperform” rating on the stock. Finally, Raymond James decreased their price objective on Centerra Gold from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, December 29th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Centerra Gold currently has an average rating of “Buy” and an average target price of $9.78.

Centerra Gold Trading Up 2.0 %

The company has a market cap of $1.33 billion, a PE ratio of -16.39 and a beta of 0.98. The business has a fifty day moving average of $5.58 and a 200-day moving average of $5.51.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. As a group, research analysts predict that Centerra Gold Inc. will post 0.51 EPS for the current year.

Centerra Gold Increases Dividend

The firm also recently declared 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. This represents a $0.21 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Tuesday, March 12th. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s payout ratio is currently -43.24%.

Institutional Trading of Centerra Gold

Several large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in Centerra Gold by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 160,838 shares of the company’s stock valued at $964,000 after acquiring an additional 2,402 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Centerra Gold by 3.6% in the 2nd quarter. Geode Capital Management LLC now owns 83,523 shares of the company’s stock worth $501,000 after purchasing an additional 2,920 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Centerra Gold by 22.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 17,373 shares of the company’s stock worth $104,000 after buying an additional 3,223 shares during the last quarter. CIBC Asset Management Inc increased its position in Centerra Gold by 1.8% during the 3rd quarter. CIBC Asset Management Inc now owns 207,198 shares of the company’s stock valued at $1,016,000 after buying an additional 3,640 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Centerra Gold by 1.0% during the third quarter. Legal & General Group Plc now owns 399,671 shares of the company’s stock valued at $1,963,000 after buying an additional 4,151 shares during the last quarter. 55.40% of the stock is 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.