Centerra Gold (NYSE:CGAU) Stock Price Down 6.8% – Should You Sell?

Centerra Gold Inc. (NYSE:CGAU) shares were down 6.8% on Wednesday . The stock traded as low as $17.23 and last traded at $17.20. Approximately 1,844,240 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 2,015,610 shares. The stock had previously closed at $18.45.

Analyst Ratings Changes

A number of research firms have recently weighed in on CGAU. Zacks Research raised Centerra Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. Scotiabank lifted their price objective on shares of Centerra Gold from $13.50 to $19.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. BMO Capital Markets upgraded shares of Centerra Gold from a “hold” rating to an “outperform” rating in a research report on Tuesday, January 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Centerra Gold in a research note on Monday, December 29th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Centerra Gold in a report on Wednesday, February 4th. One investment 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.00.

Centerra Gold Trading Down 0.3%

The company’s fifty day moving average is $18.22 and its 200-day moving average is $14.12. 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 company has a market capitalization of $3.29 billion, a PE ratio of 5.80, a price-to-earnings-growth ratio of 0.87 and a beta of 0.83.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Thursday, February 19th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. Centerra Gold had a return on equity of 12.42% and a net margin of 42.18%.The business had revenue of $401.60 million for the quarter, compared to analysts’ expectations of $355.39 million. On average, analysts anticipate that Centerra Gold Inc. will post 0.59 EPS for the current fiscal year.

Centerra Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, March 12th. Centerra Gold’s dividend payout ratio (DPR) is presently 7.39%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. boosted its position in Centerra Gold by 32.7% in the third quarter. American Century Companies Inc. now owns 5,379,277 shares of the company’s stock valued at $57,631,000 after buying an additional 1,324,448 shares during the last quarter. TD Asset Management Inc lifted its stake in Centerra Gold by 12.2% during the 3rd quarter. TD Asset Management Inc now owns 1,489,163 shares of the company’s stock valued at $15,958,000 after acquiring an additional 161,542 shares during the period. Legal & General Group Plc boosted its holdings in shares of Centerra Gold by 25.1% in the 2nd quarter. Legal & General Group Plc now owns 818,429 shares of the company’s stock valued at $5,884,000 after acquiring an additional 164,238 shares during the last quarter. Waratah Capital Advisors Ltd. increased its stake in shares of Centerra Gold by 4.1% in 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. Finally, Intact Investment Management Inc. raised its holdings in shares of Centerra Gold by 41.5% during the third quarter. Intact Investment Management Inc. now owns 567,900 shares of the company’s stock worth $6,085,000 after purchasing an additional 166,500 shares during the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

About Centerra Gold

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.