Centerra Gold (TSE:CG) Sets New 1-Year High – Time to Buy?

Centerra Gold Inc. (TSE:CG)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as C$31.08 and last traded at C$30.27, with a volume of 883180 shares changing hands. The stock had previously closed at C$30.23.

Wall Street Analysts Forecast Growth

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

Centerra Gold Price Performance

The stock has a 50-day simple moving average of C$23.97 and a 200 day simple moving average of C$24.59. The stock has a market capitalization of C$5.84 billion, a P/E ratio of 9.55, a price-to-earnings-growth ratio of 1.26 and a beta of 1.83. The company has a debt-to-equity ratio of 2.11, a quick ratio of 3.24 and a current ratio of 2.42.

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

Centerra Gold Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Paul Nicholas Wright bought 5,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were purchased at an average price of C$22.31 per share, with a total value of C$111,550.00. Following the completion of the purchase, the director owned 130,000 shares of the company’s stock, valued at C$2,900,300. This represents a 4.00% increase in their position. Also, Director Wendy Wai Ting Kei bought 1,000 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was bought at an average cost of C$29.76 per share, for a total transaction of C$29,760.00. Following the purchase, the director directly owned 5,172 shares of the company’s stock, valued at approximately C$153,918.72. This trade represents a 23.97% increase in their position. In the last three months, insiders bought 6,012 shares of company stock worth $141,595. 0.21% of the stock is currently owned by company insiders.

About Centerra Gold

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.