Centerra Gold (NYSE:CGAU) Trading Down 3.5% – Here’s Why

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

Wall Street Analyst Weigh In

Separately, Desjardins raised shares of Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Centerra Gold has an average rating of “Moderate Buy” and an average target price of $11.00.

Centerra Gold Stock Down 0.8 %

The firm has a market capitalization of $1.25 billion, a PE ratio of 12.31 and a beta of 0.98. The firm has a 50-day moving average price of $6.86 and a 200 day moving average price of $6.85.

Centerra Gold (NYSE:CGAU) last announced 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 net margin of 8.31% and a return on equity of 10.34%. The business had revenue of $323.93 million during the quarter. During the same period in the prior year, the business earned $0.20 EPS. Equities research analysts expect that Centerra Gold Inc. will post 0.81 earnings per share for the current year.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.052 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.52%. Centerra Gold’s payout ratio is currently 43.75%.

Institutional Trading of Centerra Gold

Several hedge funds have recently added to or reduced their stakes in the company. CWM LLC purchased a new stake in shares of Centerra Gold in the 3rd quarter valued at approximately $57,000. Capstone Investment Advisors LLC purchased a new position in Centerra Gold in the third quarter valued at $89,000. Vanguard Personalized Indexing Management LLC increased 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 buying an additional 1,573 shares during the last quarter. HighTower Advisors LLC acquired a new stake in Centerra Gold in the third quarter valued at $127,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Centerra Gold during the 2nd quarter worth about $131,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

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.