Centerra Gold (NYSE:CGAU) Sets New 12-Month High – Should You Buy?

Shares of Centerra Gold Inc. (NYSE:CGAU) hit a new 52-week high during trading on Monday . The stock traded as high as $15.94 and last traded at $15.9510, with a volume of 109734 shares changing hands. The stock had previously closed at $15.36.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CGAU shares. Wall Street Zen upgraded shares of Centerra Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “buy (b)” rating on shares of Centerra Gold in a report on Monday, December 29th. BMO Capital Markets reiterated a “market perform” rating on shares of Centerra Gold in a report on Monday, September 15th. Raymond James Financial reissued a “market perform” rating on shares of Centerra Gold in a research report on Thursday, October 30th. Finally, Scotiabank reissued an “outperform” rating on shares of Centerra Gold in a research note on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Centerra Gold has a consensus rating of “Moderate Buy” and an average price target of $14.17.

Centerra Gold Stock Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 2.89 and a quick ratio of 2.10. The company has a fifty day moving average price of $13.37 and a 200 day moving average price of $10.43. The stock has a market cap of $3.21 billion, a P/E ratio of 9.68, a P/E/G ratio of 0.44 and a beta of 0.87.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. Centerra Gold had a net margin of 26.35% and a return on equity of 10.47%. The business had revenue of $395.20 million for the quarter, compared to analysts’ expectations of $314.74 million. On average, equities analysts expect that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, November 13th. This represents a $0.28 annualized dividend and a yield of 1.8%. Centerra Gold’s dividend payout ratio is presently 11.59%.

Institutional Trading of Centerra Gold

Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its position in shares of Centerra Gold by 57.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock valued at $84,739,000 after purchasing an additional 4,853,494 shares in the last quarter. Acadian Asset Management LLC grew its position in Centerra Gold by 26.2% during the second quarter. Acadian Asset Management LLC now owns 8,494,055 shares of the company’s stock worth $61,027,000 after buying an additional 1,761,904 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Centerra Gold by 18.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 7,725,444 shares of the company’s stock worth $82,796,000 after buying an additional 1,195,277 shares in the last quarter. Ruffer LLP increased its stake in Centerra Gold by 0.9% in the 2nd quarter. Ruffer LLP now owns 7,153,309 shares of the company’s stock worth $51,590,000 after acquiring an additional 64,070 shares during the last quarter. Finally, Waratah Capital Advisors Ltd. raised its holdings in shares of Centerra Gold by 4.1% in the 3rd quarter. Waratah Capital Advisors Ltd. now owns 6,954,407 shares of the company’s stock valued at $74,621,000 after acquiring an additional 275,510 shares in the last quarter. Institutional investors own 55.40% of the company’s stock.

Centerra Gold Company Profile

Centerra Gold Inc is a gold mining company incorporated in Canada and headquartered in Toronto. The company specializes in the exploration, development and operation of precious metals properties, with a focus on gold production. Centerra’s portfolio includes the Mount Milligan mine in British Columbia, Canada, and the Otjikoto mine in Namibia. Both operations produce gold and copper concentrates and employ modern mining methods and processing facilities to optimize recovery rates and minimize environmental impact.

In addition to its producing assets, Centerra is advancing the development of its Greenstone Gold Project in Ontario, Canada, which, upon completion, is expected to become one of Canada’s largest gold mines.