Centerra Gold (NYSE:CGAU) Hits New 1-Year High – Still a Buy?

Shares of Centerra Gold Inc. (NYSE:CGAU) hit a new 52-week high on Friday . The stock traded as high as $21.45 and last traded at $21.1960, with a volume of 157315 shares trading hands. The stock had previously closed at $19.81.

Analysts Set New Price Targets

Several research firms have recently commented on CGAU. Weiss Ratings cut Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Scotiabank reissued an “outperform” rating on shares of Centerra Gold in a research note on Tuesday. Wall Street Zen cut shares of Centerra Gold from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $17.50.

Centerra Gold Price Performance

The company has a 50-day simple moving average of $16.48 and a 200-day simple moving average of $17.61. The stock has a market cap of $4.13 billion, a PE ratio of 6.75, a PEG ratio of 0.73 and a beta of 0.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.42 and a quick ratio of 1.49.

Centerra Gold (NYSE:CGAU) last released its earnings results on Tuesday, July 28th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $442.71 million during the quarter, compared to the consensus estimate of $394.27 million. Centerra Gold had a return on equity of 15.35% and a net margin of 36.92%. Sell-side analysts anticipate that Centerra Gold Inc. will post 1.63 EPS for the current fiscal year.

Centerra Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. Centerra Gold’s dividend payout ratio (DPR) is 6.71%.

Institutional Trading of Centerra Gold

Institutional investors have recently added to or reduced their stakes in the stock. Precision Wealth Strategies LLC acquired a new stake in shares of Centerra Gold during the 1st quarter valued at approximately $1,988,000. Walleye Capital LLC acquired a new stake in shares of Centerra Gold in the 1st quarter worth approximately $1,226,000. Public Employees Retirement System of Ohio grew its holdings in shares of Centerra Gold by 14.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 869,098 shares of the company’s stock worth $15,372,000 after acquiring an additional 106,527 shares during the period. Intact Investment Management Inc. grew its holdings in shares of Centerra Gold by 166.7% in the 4th quarter. Intact Investment Management Inc. now owns 1,514,820 shares of the company’s stock worth $21,807,000 after acquiring an additional 946,920 shares during the period. Finally, Hillsdale Investment Management Inc. increased its stake in Centerra Gold by 62.9% in the 4th quarter. Hillsdale Investment Management Inc. now owns 3,513,875 shares of the company’s stock valued at $50,678,000 after purchasing an additional 1,356,660 shares in the last quarter. Hedge funds and other 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.