Centerra Gold (TSE:CG) Sets New 52-Week High – Here’s What Happened

Centerra Gold Inc. (TSE:CG)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$18.00 and last traded at C$17.96, with a volume of 266029 shares trading hands. The stock had previously closed at C$17.42.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CG. CIBC upped their price target on Centerra Gold from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. BMO Capital Markets boosted their price objective on shares of Centerra Gold from C$10.00 to C$14.00 in a research note on Monday, September 15th. Raymond James Financial upped their price objective on shares of Centerra Gold from C$16.50 to C$16.75 and gave the stock a “market perform” rating in a research report on Thursday, October 30th. Royal Bank Of Canada lowered shares of Centerra Gold from a “moderate buy” rating to a “hold” rating and boosted their price target for the stock from C$13.00 to C$14.00 in a research note on Wednesday, September 10th. Finally, Cormark upgraded shares of Centerra Gold from a “hold” rating to a “moderate buy” rating in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$15.09.

Centerra Gold Stock Performance

The stock’s 50 day moving average price is C$15.79 and its two-hundred day moving average price is C$12.15. The company has a current ratio of 3.60, a quick ratio of 3.24 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of C$3.62 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.26 and a beta of 1.60.

Centerra Gold (TSE:CG) last issued its earnings results on Tuesday, October 28th. The company reported C$1.43 earnings per share for the quarter. Centerra Gold had a net margin of 8.32% and a return on equity of 6.06%. The company had revenue of C$550.23 million for the quarter.

Centerra Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 26th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Thursday, November 13th. Centerra Gold’s dividend payout ratio (DPR) is presently 12.46%.

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.