Centerra Gold (TSE:CG) Reaches New 12-Month High – Here’s What Happened

Centerra Gold Inc. (TSE:CG)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as C$29.78 and last traded at C$29.52, with a volume of 47200 shares traded. The stock had previously closed at C$27.37.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Raymond James Financial raised their target price on shares of Centerra Gold from C$28.00 to C$29.00 and gave the company a “market perform” rating in a report on Thursday, July 30th. ATB Cormark Capital Markets raised their price objective on shares of Centerra Gold from C$26.00 to C$27.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Desjardins raised their price objective on shares of Centerra Gold from C$30.00 to C$33.00 and gave the stock a “hold” rating in a research note on Thursday, April 23rd. Canadian Imperial Bank of Commerce lifted their price objective on Centerra Gold from C$37.00 to C$38.00 in a research report on Thursday, July 30th. Finally, TD upped their target price on Centerra Gold from C$31.00 to C$32.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Centerra Gold presently has an average rating of “Moderate Buy” and an average target price of C$28.17.

Centerra Gold Stock Performance

The firm has a market cap of C$5.77 billion, a PE ratio of 9.43, a P/E/G ratio of 1.26 and a beta of 1.83. The stock has a 50-day moving average price of C$23.19 and a 200 day moving average price of C$24.37. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.42 and a quick ratio of 3.24.

Centerra Gold (TSE:CG) last released its earnings results on Tuesday, July 28th. The company reported C$0.55 earnings per share for the quarter. Centerra Gold had a return on equity of 30.90% and a net margin of 37.72%.The firm had revenue of C$629.00 million for the quarter.

Centerra Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, September 2nd will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, August 19th. Centerra Gold’s dividend payout ratio is presently 6.45%.

Insider Buying and Selling at Centerra Gold

In related news, Director Paul Nicholas Wright bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of C$22.31 per share, with a total value of C$111,550.00. Following the completion of the transaction, the director owned 130,000 shares of the company’s stock, valued at approximately C$2,900,300. The trade was a 4.00% increase in their ownership of the stock. 0.21% of the stock is currently owned by insiders.

Centerra Gold Company Profile

Centerra Gold Inc is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. The Company also owns the Kemess Project in British Columbia, Canada, the Goldfield Project in Nevada, United States, and owns and operates the Molybdenum Business Unit in the United States and Canada.