Centerra Gold (TSE:CG) Sets New 1-Year High – Here’s Why

Shares of Centerra Gold Inc. (TSE:CG) hit a new 52-week high during trading on Tuesday . The stock traded as high as C$33.48 and last traded at C$32.53, with a volume of 1022568 shares traded. The stock had previously closed at C$32.69.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CG shares. Raymond James Financial increased their target price on shares of Centerra Gold from C$28.00 to C$29.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. ATB Cormark Capital Markets lifted their price target on shares of Centerra Gold from C$26.00 to C$27.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. TD lifted their price target on shares of Centerra Gold from C$31.00 to C$32.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Canadian Imperial Bank of Commerce upped their price objective on Centerra Gold from C$37.00 to C$38.00 in a research note on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$28.17.

Centerra Gold Price Performance

The firm’s 50 day moving average price is C$25.46 and its two-hundred day moving average price is C$25.00. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.42 and a quick ratio of 3.24. The stock has a market cap of C$6.43 billion, a PE ratio of 10.50, a P/E/G ratio of 1.26 and a beta of 1.83.

Centerra Gold (TSE:CG) last announced its quarterly earnings results on Tuesday, July 28th. The company reported C$0.55 EPS for the quarter. The company had revenue of C$629.00 million for the quarter. Centerra Gold had a net margin of 37.72% and a return on equity of 30.90%.

Centerra Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, September 2nd will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.9%. Centerra Gold’s dividend payout ratio is currently 6.45%.

Insider Activity

In related news, Director Wendy Wai Ting Kei purchased 1,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was purchased at an average cost of C$29.76 per share, with a total value of C$29,760.00. Following the completion of the acquisition, the director directly owned 5,172 shares of the company’s stock, valued at approximately C$153,918.72. The trade was a 23.97% increase in their ownership of the stock. 0.21% of the stock is currently owned by corporate insiders.

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. The Company also owns the Kemess Project in British Columbia, Canada, the Goldfield Project in Nevada, United States, and owns and operates the Molybdenum Business Unit in the United States and Canada.