Centerra Gold (TSE:CG) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Centerra Gold Inc. (TSE:CG)’s stock price crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of C$30.76 and traded as high as C$31.08. Centerra Gold shares last traded at C$30.81, with a volume of 673,959 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CG shares. TD lifted their target price on Centerra Gold from C$31.00 to C$32.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Canadian Imperial Bank of Commerce increased their price objective on Centerra Gold from C$37.00 to C$38.00 in a research report on Thursday, July 30th. Raymond James Financial boosted their target price on Centerra Gold from C$28.00 to C$29.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th. Desjardins cut their price target on Centerra Gold from C$34.00 to C$33.00 and set a “hold” rating on the stock in a report on Thursday, October 22nd. Finally, ATB Cormark Capital Markets raised their price objective on Centerra Gold from C$26.00 to C$27.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Centerra Gold has an average rating of “Hold” and an average price target of C$31.43.

Centerra Gold Price Performance

The company has a market capitalization of C$5.96 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.26 and a beta of 1.79. The company has a quick ratio of 3.24, a current ratio of 2.07 and a debt-to-equity ratio of 1.94. The firm’s 50-day moving average is C$30.76 and its 200-day moving average is C$26.48.

Centerra Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, December 2nd will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, November 19th. Centerra Gold’s dividend payout ratio (DPR) is currently 9.28%.

Insider Activity at Centerra Gold

In other news, Director Wendy Wai Ting Kei purchased 1,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was purchased at an average cost of C$29.76 per share, with a total value of C$29,760.00. Following the purchase, the director owned 5,172 shares in the company, valued at C$153,918.72. This trade represents a 23.97% increase in their position. Also, insider Yousef Rehman sold 57,636 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of C$33.50, for a total value of C$1,930,806.00. Following the completion of the sale, the insider owned 77,918 shares in the company, valued at C$2,610,253. This trade represents a 42.52% decrease in their ownership of the stock. 0.21% of the stock is owned by corporate 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.