Centerra Gold (NYSE:CGAU) Hits New 52-Week Low – Here’s Why

Shares of Centerra Gold Inc. (NYSE:CGAU) reached a new 52-week low during trading on Monday . The stock traded as low as $5.46 and last traded at $5.51, with a volume of 726373 shares trading hands. The stock had previously closed at $5.76.

Analysts Set New Price Targets

CGAU has been the subject of several analyst reports. Cormark cut shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Desjardins downgraded Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, Scotiabank cut their price target on shares of Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a report on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $11.00.

Centerra Gold Trading Down 0.1 %

The firm has a 50-day moving average of $6.09 and a two-hundred day moving average of $6.41. The firm has a market capitalization of $1.19 billion, a P/E ratio of 15.71 and a beta of 0.92.

Centerra Gold (NYSE:CGAU) last posted its earnings results on Thursday, February 20th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The company had revenue of $302.40 million during the quarter, compared to the consensus estimate of $316.92 million. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. On average, sell-side analysts anticipate that Centerra Gold Inc. will post 0.59 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $0.07 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.28 dividend on an annualized basis and a yield of 4.95%. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio (DPR) is currently 52.78%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Versor Investments LP grew its position in Centerra Gold by 40.9% during the 3rd quarter. Versor Investments LP now owns 146,700 shares of the company’s stock worth $1,053,000 after acquiring an additional 42,600 shares during the last quarter. Plato Investment Management Ltd bought a new stake in shares of Centerra Gold during the third quarter worth about $412,000. PCJ Investment Counsel Ltd. increased its stake in shares of Centerra Gold by 59.6% in the third quarter. PCJ Investment Counsel Ltd. now owns 434,628 shares of the company’s stock valued at $3,120,000 after buying an additional 162,382 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Centerra Gold by 36.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock valued at $31,514,000 after buying an additional 1,175,000 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in Centerra Gold by 59.0% in the 3rd quarter. Bank of Montreal Can now owns 3,869,035 shares of the company’s stock valued at $28,690,000 after buying an additional 1,435,794 shares during the last quarter. 55.40% of the stock is currently owned by institutional investors and hedge funds.

About Centerra Gold

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.