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

Centerra Gold Inc. (NYSE:CGAU) gapped up prior to trading 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 changing hands.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CGAU shares. Raymond James dropped their target price on shares of Centerra Gold from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday, December 29th. CIBC lifted their target price on shares of Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a research note on Monday. BMO Capital Markets began coverage on shares of Centerra Gold in a research note on Wednesday, February 21st. They issued an “outperform” rating on the stock. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of Centerra Gold in a research note on Monday, April 8th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Centerra Gold presently has an average rating of “Buy” and a consensus price target of $9.78.

Centerra Gold Price Performance

The firm’s fifty day moving average price is $5.54 and its 200-day moving average price is $5.51.

Centerra Gold (NYSE:CGAU) last issued its earnings results on Thursday, February 22nd. The company reported $0.28 earnings per share (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 company had revenue of $340.00 million during the quarter. Sell-side analysts expect that Centerra Gold Inc. will post 0.51 earnings per share 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 paid a dividend of $0.0518 per share. The ex-dividend date was Tuesday, March 12th. This represents a $0.21 dividend on an annualized basis and a yield of 3.44%. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio is currently -43.24%.

Institutional Trading of Centerra Gold

A number of large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its stake 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 worth $964,000 after purchasing an additional 2,402 shares during the period. Geode Capital Management LLC raised its position in Centerra Gold by 3.6% during the 2nd quarter. Geode Capital Management LLC now owns 83,523 shares of the company’s stock worth $501,000 after buying an additional 2,920 shares during the last quarter. Great West Life Assurance Co. Can raised its position in Centerra Gold by 22.8% during 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 raised 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 worth $1,016,000 after buying an additional 3,640 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Centerra Gold by 1.0% during the 3rd quarter. Legal & General Group Plc now owns 399,671 shares of the company’s stock worth $1,963,000 after buying an additional 4,151 shares during the last quarter. Institutional investors and hedge funds 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.