Centerra Gold (NYSE:CGAU) Shares Gap Up – Time to Buy?

Centerra Gold Inc. (NYSE:CGAU) gapped up before the market opened on Friday . The stock had previously closed at $6.02, but opened at $6.22. Centerra Gold shares last traded at $6.11, with a volume of 51,476 shares trading hands.

Analyst Ratings Changes

CGAU has been the topic of a number of analyst reports. Desjardins raised shares of Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st. Scotiabank cut their target price on shares of Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Centerra Gold Stock Performance

The firm has a market cap of $1.28 billion, a PE ratio of 12.70 and a beta of 0.90. The company’s 50-day simple moving average is $5.88 and its two-hundred day simple moving average is $6.55.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. The company had revenue of $323.93 million during the quarter. During the same period in the previous year, the business earned $0.20 EPS. On average, analysts expect that Centerra Gold Inc. will post 0.77 EPS for the current year.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $0.052 per share. This represents a $0.21 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Wednesday, November 13th. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio (DPR) is 45.83%.

Institutional Investors Weigh In On Centerra Gold

A number of institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its position in Centerra Gold by 29.0% in the 2nd quarter. Renaissance Technologies LLC now owns 327,800 shares of the company’s stock valued at $2,203,000 after acquiring an additional 73,600 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Centerra Gold by 12.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock valued at $96,000 after purchasing an additional 1,573 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Centerra Gold by 4.1% during the second quarter. Hsbc Holdings PLC now owns 48,101 shares of the company’s stock valued at $325,000 after buying an additional 1,895 shares during the last quarter. Bank of Montreal Can increased its holdings in Centerra Gold by 158.9% in the 2nd quarter. Bank of Montreal Can now owns 2,433,241 shares of the company’s stock worth $16,881,000 after buying an additional 1,493,349 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in Centerra Gold by 94.6% in the 2nd quarter. Marshall Wace LLP now owns 1,037,839 shares of the company’s stock worth $6,974,000 after buying an additional 504,636 shares in the last quarter. Hedge funds and other institutional investors own 55.40% of the company’s stock.

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.