Centerra Gold (NYSE:CGAU) Sets New 1-Year High – Should You Buy?

Centerra Gold Inc. (NYSE:CGAU) reached a new 52-week high on Friday . The stock traded as high as $20.47 and last traded at $20.3640, with a volume of 301561 shares trading hands. The stock had previously closed at $20.07.

Analyst Upgrades and Downgrades

CGAU has been the subject of a number of research reports. Zacks Research upgraded Centerra Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. Wall Street Zen raised shares of Centerra Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Raymond James Financial reiterated a “market perform” rating on shares of Centerra Gold in a research note on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Centerra Gold in a research note on Monday, December 29th. Finally, Scotiabank increased their price target on Centerra Gold from $13.50 to $19.00 and gave the company an “outperform” rating in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Centerra Gold Price Performance

The business has a fifty day moving average of $17.03 and a 200 day moving average of $12.94. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.65. The stock has a market cap of $4.10 billion, a PE ratio of 7.23, a P/E/G ratio of 0.43 and a beta of 0.88.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.07. The company had revenue of $401.60 million for the quarter, compared to the consensus estimate of $355.39 million. Centerra Gold had a return on equity of 12.42% and a net margin of 42.18%. Sell-side analysts anticipate that Centerra Gold Inc. will post 0.59 earnings per share for the current year.

Centerra Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. Centerra Gold’s payout ratio is presently 7.04%.

Institutional Investors Weigh In On Centerra Gold

Several institutional investors and hedge funds have recently made changes to their positions in the company. Donald Smith & CO. Inc. raised its holdings in shares of Centerra Gold by 21.8% during the fourth quarter. Donald Smith & CO. Inc. now owns 14,158,116 shares of the company’s stock worth $203,452,000 after purchasing an additional 2,535,492 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Centerra Gold by 57.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock valued at $84,739,000 after buying an additional 4,853,494 shares during the period. Acadian Asset Management LLC grew its position in shares of Centerra Gold by 26.2% during the 2nd quarter. Acadian Asset Management LLC now owns 8,494,055 shares of the company’s stock valued at $61,027,000 after buying an additional 1,761,904 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Centerra Gold by 7.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,274,935 shares of the company’s stock worth $119,058,000 after acquiring an additional 549,491 shares during the period. Finally, Waratah Capital Advisors Ltd. raised its stake in Centerra Gold by 4.1% during the third quarter. Waratah Capital Advisors Ltd. now owns 6,954,407 shares of the company’s stock worth $74,621,000 after acquiring an additional 275,510 shares during the period. 55.40% of the stock is owned by institutional investors and hedge funds.

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.