Centerra Gold (NYSE:CGAU) Hits New 52-Week High – Still a Buy?

Shares of Centerra Gold Inc. (NYSE:CGAU) reached a new 52-week high on Tuesday . The company traded as high as $18.37 and last traded at $18.2120, with a volume of 573809 shares. The stock had previously closed at $16.13.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CGAU shares. Cormark raised shares of Centerra Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Centerra Gold in a research report on Monday, December 29th. BMO Capital Markets upgraded Centerra Gold from a “market perform” rating to an “outperform” rating in a research report on Tuesday. Zacks Research downgraded Centerra Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Centerra Gold in a research note on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.17.

Centerra Gold Trading Up 11.7%

The stock has a market capitalization of $3.60 billion, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 0.40 and a beta of 0.87. The business has a 50 day simple moving average of $13.92 and a 200-day simple moving average of $10.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.10 and a current ratio of 2.89.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Tuesday, October 28th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. Centerra Gold had a return on equity of 10.47% and a net margin of 26.35%.The business had revenue of $395.20 million during the quarter, compared to analysts’ expectations of $314.74 million. On average, analysts predict that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were given a $0.07 dividend. The ex-dividend date was Thursday, November 13th. This represents a $0.28 annualized dividend and a yield of 1.6%. Centerra Gold’s payout ratio is 12.20%.

Institutional Trading of Centerra Gold

A number of hedge funds have recently bought and sold shares of CGAU. Baron Wealth Management LLC boosted its stake in Centerra Gold by 10.8% in the 4th quarter. Baron Wealth Management LLC now owns 25,981 shares of the company’s stock worth $373,000 after purchasing an additional 2,542 shares during the period. Burkett Financial Services LLC raised its holdings in shares of Centerra Gold by 27.5% during the 4th quarter. Burkett Financial Services LLC now owns 3,569 shares of the company’s stock valued at $51,000 after purchasing an additional 769 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Centerra Gold by 146.2% in the third quarter. JPMorgan Chase & Co. now owns 1,367,172 shares of the company’s stock worth $14,670,000 after buying an additional 811,803 shares during the last quarter. Polar Asset Management Partners Inc. bought a new stake in shares of Centerra Gold during the 3rd quarter worth $2,036,000. Finally, Voleon Capital Management LP acquired a new stake in Centerra Gold in the 3rd quarter valued at approximately $122,000. 55.40% of the stock is owned by hedge funds and other institutional investors.

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.