Centerra Gold (NYSE:CGAU) Stock Price Down 3.5% – Here’s What Happened

Centerra Gold Inc. (NYSE:CGAU)’s share price traded down 3.5% during mid-day trading on Monday . The company traded as low as $6.02 and last traded at $6.02. 44,094 shares traded hands during mid-day 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 Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Centerra Gold Stock Performance

The firm has a market cap of $1.26 billion, a PE ratio of 13.00 and a beta of 0.98. The stock’s fifty day moving average price is $6.87 and its 200-day moving average price is $6.86.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.18 EPS 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 quarter last year, the firm posted $0.20 earnings per share. Sell-side analysts forecast that Centerra Gold Inc. will post 0.81 earnings per share for the current fiscal 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 paid a dividend of $0.052 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 annualized dividend and a dividend yield of 3.49%. Centerra Gold’s payout ratio is currently 43.75%.

Institutional Investors Weigh In On Centerra Gold

Several hedge funds and other institutional investors have recently modified their holdings of CGAU. Acadian Asset Management LLC increased its stake in Centerra Gold by 594.6% during the second quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company’s stock valued at $59,532,000 after purchasing an additional 7,586,370 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Centerra Gold by 158.9% in the second quarter. Bank of Montreal Can now owns 2,433,241 shares of the company’s stock worth $16,881,000 after purchasing an additional 1,493,349 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Centerra Gold by 36.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock worth $31,514,000 after purchasing an additional 1,175,000 shares during the period. American Century Companies Inc. boosted its position in shares of Centerra Gold by 132.8% in the second quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock valued at $12,345,000 after acquiring an additional 1,047,142 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in Centerra Gold during the second quarter worth $6,772,000. Institutional investors own 55.40% of the company’s stock.

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.