Centerra Gold (NYSE:CGAU) Shares Gap Up to $5.95

Centerra Gold Inc. (NYSE:CGAU) gapped up before the market opened on Wednesday . The stock had previously closed at $5.95, but opened at $6.13. Centerra Gold shares last traded at $6.06, with a volume of 193,475 shares traded.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CGAU. CIBC raised their price objective on shares of Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a report on Monday. Raymond James reduced their target price on shares of Centerra Gold from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, December 29th. National Bank Financial reiterated an “outperform overweight” rating on shares of Centerra Gold in a research note on Monday, April 8th. Finally, BMO Capital Markets initiated coverage on shares of Centerra Gold in a research note on Wednesday, February 21st. They issued an “outperform” rating for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $9.78.

Centerra Gold Stock Performance

The firm’s 50-day simple moving average is $5.54 and its 200-day simple moving average is $5.51.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Thursday, February 22nd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). Centerra Gold had a negative net margin of 7.43% and a positive return on equity of 0.62%. The company had revenue of $340.00 million for the quarter. On average, equities research analysts anticipate that Centerra Gold Inc. will post 0.51 EPS for the current year.

Centerra Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 13th were given a dividend of $0.0518 per share. The ex-dividend date was Tuesday, March 12th. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 annualized dividend and a yield of 3.44%. Centerra Gold’s payout ratio is presently -43.24%.

Institutional Investors Weigh In On Centerra Gold

Hedge funds have recently made changes to their positions in the business. Qube Research & Technologies Ltd bought a new stake in shares of Centerra Gold in the 3rd quarter worth approximately $31,000. Versor Investments LP bought a new stake in shares of Centerra Gold in the 3rd quarter worth approximately $52,000. First Trust Advisors LP bought a new stake in shares of Centerra Gold in the 4th quarter worth approximately $64,000. Heron Bay Capital Management purchased a new stake in shares of Centerra Gold during the 4th quarter valued at about $77,000. Finally, Trexquant Investment LP purchased a new stake in shares of Centerra Gold during the 3rd quarter valued at about $77,000. 55.40% of the stock is currently owned by institutional investors.

Centerra Gold Company Profile

Centerra Gold Inc, a gold mining company, engages in the acquisition, exploration, development, and operation of gold and copper properties in North America, Turkey, and internationally. The company explores for gold, copper, and molybdenum deposits. Its flagship projects are the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt gold mine located in Turkey.