Centerra Gold (NYSE:CGAU) Shares Gap Up – Still a Buy?

Centerra Gold Inc. (NYSE:CGAU) gapped up prior to trading on Wednesday . The stock had previously closed at $5.52, but opened at $5.77. Centerra Gold shares last traded at $5.71, with a volume of 85,904 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. CIBC restated a “neutral” rating on shares of Centerra Gold in a report on Thursday, March 20th. National Bankshares reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Wednesday, April 2nd. National Bank Financial raised Centerra Gold to a “strong-buy” rating in a research report on Friday, March 21st. Scotiabank decreased their target price on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a research report on Wednesday, January 15th. Finally, Raymond James reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Friday. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Centerra Gold presently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Centerra Gold Price Performance

The firm has a market capitalization of $1.20 billion, a PE ratio of 15.90 and a beta of 0.81. The firm has a 50-day simple moving average of $6.15 and a 200-day simple moving average of $6.29.

Centerra Gold (NYSE:CGAU) last issued its quarterly 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). Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. The company had revenue of $302.40 million during the quarter, compared to analysts’ expectations of $316.92 million. Equities analysts expect that Centerra Gold Inc. will post 0.59 earnings per share for the current year.

Centerra Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.07 per share. The ex-dividend date was Thursday, March 13th. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.28 dividend on an annualized basis and a yield of 4.89%. Centerra Gold’s dividend payout ratio (DPR) is currently 52.78%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CGAU. Donald Smith & CO. Inc. lifted its holdings in shares of Centerra Gold by 30.1% in the fourth quarter. Donald Smith & CO. Inc. now owns 8,723,060 shares of the company’s stock worth $49,634,000 after buying an additional 2,017,756 shares in the last quarter. Vanguard Group Inc. lifted its stake in Centerra Gold by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 8,254,618 shares of the company’s stock worth $46,977,000 after purchasing an additional 76,544 shares in the last quarter. Royal Bank of Canada boosted its stake in Centerra Gold by 7.2% during the fourth quarter. Royal Bank of Canada now owns 7,950,409 shares of the company’s stock valued at $45,238,000 after buying an additional 530,601 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Centerra Gold by 24.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,808,773 shares of the company’s stock valued at $33,028,000 after purchasing an additional 1,126,825 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Centerra Gold by 34.1% in the 4th quarter. American Century Companies Inc. now owns 3,291,860 shares of the company’s stock worth $18,733,000 after buying an additional 836,777 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors.

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.