Centerra Gold (NYSE:CGAU) Stock Price Down 3.5% – What’s Next?

Centerra Gold Inc. (NYSE:CGAU)’s stock price dropped 3.5% during mid-day trading on Monday . The company traded as low as $6.02 and last traded at $6.02. 44,094 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 656,975 shares. The stock had previously closed at $6.24.

Analyst Upgrades and Downgrades

Separately, Desjardins raised Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Centerra Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Centerra Gold Price Performance

The company has a market cap of $1.26 billion, a P/E ratio of 13.00 and a beta of 0.98. The stock’s 50-day moving average is $6.87 and its two-hundred day moving average is $6.86.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. The business had revenue of $323.93 million during the quarter. During the same period last year, the business posted $0.20 earnings per share. On average, analysts predict that Centerra Gold Inc. will post 0.81 EPS for the current year.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $0.052 dividend. This represents a $0.21 annualized dividend and a yield of 3.49%. The ex-dividend date is Wednesday, November 13th. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio is currently 43.75%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CGAU. CWM LLC acquired a new stake in shares of Centerra Gold in the third quarter valued at $57,000. Capstone Investment Advisors LLC acquired a new stake in shares of Centerra Gold in the 3rd quarter valued at approximately $89,000. Vanguard Personalized Indexing Management LLC lifted its holdings in Centerra Gold by 12.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock valued at $96,000 after acquiring an additional 1,573 shares during the period. Virtu Financial LLC purchased a new stake in shares of Centerra Gold during the 1st quarter worth $113,000. Finally, HighTower Advisors LLC acquired a new position in shares of Centerra Gold during the 3rd quarter worth $127,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

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.