Centerra Gold (TSE:CG) Hits New 52-Week High – Time to Buy?

Centerra Gold Inc. (TSE:CG)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$10.56 and last traded at C$10.51, with a volume of 266571 shares. The stock had previously closed at C$10.31.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CG. Raymond James decreased their price objective on shares of Centerra Gold from C$13.50 to C$13.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Canaccord Genuity Group increased their price objective on Centerra Gold from C$11.50 to C$12.50 in a report on Tuesday, July 23rd. Cibc World Mkts downgraded Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, CIBC cut shares of Centerra Gold from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from C$11.00 to C$13.00 in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$11.83.

Centerra Gold Stock Performance

The stock has a market cap of C$2.22 billion, a PE ratio of 12.27, a P/E/G ratio of 1.26 and a beta of 1.23. The firm’s 50-day moving average is C$9.55 and its 200 day moving average is C$9.23. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.24 and a current ratio of 3.79.

Centerra Gold (TSE:CG) last announced its earnings results on Thursday, August 1st. The company reported C$0.31 EPS for the quarter, beating analysts’ consensus estimates of C$0.22 by C$0.09. The business had revenue of C$386.27 million during the quarter. Centerra Gold had a net margin of 10.69% and a return on equity of 7.98%. As a group, research analysts anticipate that Centerra Gold Inc. will post 0.8633157 EPS for the current year.

Centerra Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date was Thursday, August 15th. Centerra Gold’s payout ratio is currently 33.33%.

Insider Transactions at Centerra Gold

In other news, Senior Officer Yousef Rehman sold 71,419 shares of Centerra Gold stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$10.03, for a total value of C$716,332.57. In related news, Senior Officer Claudia D’orazio sold 29,388 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of C$10.20, for a total transaction of C$299,757.60. Also, Senior Officer Yousef Rehman sold 71,419 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of C$10.03, for a total transaction of C$716,332.57. Company insiders own 0.21% 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.