Centerra Gold (NYSE:CGAU) Reaches New 12-Month High – Still a Buy?

Shares of Centerra Gold Inc. (NYSE:CGAU) reached a new 52-week high during trading on Wednesday . The stock traded as high as $22.98 and last traded at $22.8740, with a volume of 242017 shares trading hands. The stock had previously closed at $21.28.

Analyst Ratings Changes

Several brokerages have commented on CGAU. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Centerra Gold in a report on Thursday, July 30th. Wall Street Zen downgraded shares of Centerra Gold from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Scotiabank reiterated an “outperform” rating on shares of Centerra Gold in a research note on Tuesday, August 4th. Finally, Weiss Ratings lowered shares of Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.50.

Centerra Gold Stock Up 7.5%

The business has a 50-day simple moving average of $17.28 and a 200-day simple moving average of $17.79. The company has a quick ratio of 1.49, a current ratio of 2.42 and a debt-to-equity ratio of 0.03. The stock has a market cap of $4.49 billion, a P/E ratio of 7.30, a PEG ratio of 0.80 and a beta of 0.80.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $442.71 million during the quarter, compared to analysts’ expectations of $394.27 million. Centerra Gold had a net margin of 36.92% and a return on equity of 15.35%. Analysts expect that Centerra Gold Inc. will post 1.63 EPS for the current year.

Centerra Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued 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 yield of 1.2%. Centerra Gold’s dividend payout ratio (DPR) is 6.71%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CGAU. Osaic Holdings Inc. boosted its position in shares of Centerra Gold by 63.0% in the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock valued at $34,000 after acquiring an additional 1,839 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of Centerra Gold in the fourth quarter worth $36,000. Pinnacle Holdings LLC bought a new position in Centerra Gold during the second quarter worth $45,000. Leonteq Securities AG acquired a new position in Centerra Gold during the 4th quarter valued at $72,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in Centerra Gold during the 2nd quarter valued at $83,000. 55.40% of the stock is owned by 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.