Centerra Gold (NYSE:CGAU) Sees Strong Trading Volume

Shares of Centerra Gold Inc. (NYSE:CGAU) saw strong trading volume on Friday . 1,096,662 shares changed hands during mid-day trading, an increase of 109% from the previous session’s volume of 524,126 shares.The stock last traded at $7.45 and had previously closed at $7.29.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Scotiabank boosted their price objective on shares of Centerra Gold from $8.00 to $9.00 and gave the company a “sector outperform” rating in a report on Thursday, May 23rd. CIBC reissued a “neutral” rating and set a $13.00 price target (up previously from $11.00) on shares of Centerra Gold in a research report on Wednesday, July 10th. Finally, Cibc World Mkts cut Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Centerra Gold has a consensus rating of “Moderate Buy” and a consensus target price of $9.80.

Centerra Gold Price Performance

The firm’s 50-day simple moving average is $6.80 and its 200 day simple moving average is $6.30. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 27.00 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.16 by $0.07. The firm had revenue of $282.31 million during the quarter. Centerra Gold had a return on equity of 10.77% and a net margin of 10.68%. During the same period last year, the company earned ($0.20) earnings per share. As a group, research analysts predict that Centerra Gold Inc. will post 0.75 earnings per share for the current year.

Centerra Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.051 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Thursday, August 15th. Centerra Gold’s payout ratio is 74.07%.

Institutional Trading of Centerra Gold

Large investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Centerra Gold by 12.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock valued at $96,000 after purchasing an additional 1,573 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Centerra Gold during the 4th quarter worth approximately $98,000. Virtu Financial LLC acquired a new stake in Centerra Gold during the first quarter valued at $113,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Centerra Gold in the 2nd quarter valued at about $131,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Centerra Gold during the 2nd quarter valued at approximately $154,000. Institutional investors own 55.40% of the company’s stock.

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.