Centerra Gold (TSE:CG) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Centerra Gold Inc. (TSE:CG) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$25.61 and traded as high as C$31.45. Centerra Gold shares last traded at C$30.63, with a volume of 995,383 shares trading hands.

Analysts Set New Price Targets

CG has been the topic of several recent analyst reports. Canadian Imperial Bank of Commerce raised their target price on Centerra Gold from C$37.00 to C$38.00 in a research note on Thursday, July 30th. TD upped their target price on Centerra Gold from C$31.00 to C$32.00 and gave the company a “buy” rating in a report on Thursday, July 30th. ATB Cormark Capital Markets raised their price target on Centerra Gold from C$26.00 to C$27.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Finally, Raymond James Financial boosted their price objective on shares of Centerra Gold from C$28.00 to C$29.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$29.94.

Centerra Gold Trading Up 0.3%

The company has a debt-to-equity ratio of 2.11, a current ratio of 2.42 and a quick ratio of 3.24. The stock has a market cap of C$6.25 billion, a P/E ratio of 10.20, a P/E/G ratio of 1.26 and a beta of 1.96. The firm’s 50 day moving average price is C$28.18 and its 200-day moving average price is C$25.63.

Centerra Gold (TSE:CG) last posted its earnings results on Tuesday, July 28th. The company reported C$0.55 earnings per share (EPS) for the quarter. Centerra Gold had a net margin of 37.72% and a return on equity of 30.90%. The business had revenue of C$629.00 million for the quarter.

Centerra Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, September 2nd were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.9%. Centerra Gold’s dividend payout ratio is currently 6.45%.

Insider Transactions at Centerra Gold

In other news, Director Wendy Wai Ting Kei acquired 1,000 shares of Centerra Gold stock in a transaction on Thursday, August 13th. The shares were acquired at an average price of C$29.76 per share, with a total value of C$29,760.00. Following the purchase, the director directly owned 5,172 shares in the company, valued at C$153,918.72. The trade was a 23.97% increase in their position. Also, insider Yousef Rehman sold 57,636 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of C$33.50, for a total transaction 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 represents a 42.52% decrease in their position. 0.21% of the stock is currently owned by 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.