Centerra Gold (NYSE:CGAU) Shares Cross Above 50 Day Moving Average – What’s Next?

Centerra Gold Inc. (NYSE:CGAU)’s stock price crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $21.89 and traded as high as $23.06. Centerra Gold shares last traded at $23.0350, with a volume of 1,153,771 shares changing hands.

Wall Street Analyst Weigh In

CGAU has been the topic of several recent research reports. Wall Street Zen cut shares of Centerra Gold from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Scotiabank reissued an “outperform” rating on shares of Centerra Gold in a research note on Tuesday, August 4th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Centerra Gold in a research note on Friday, October 16th. Weiss Ratings cut shares of Centerra Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday. Finally, Zacks Research upgraded shares of Centerra Gold from a “strong sell” rating to a “hold” rating in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.00.

Centerra Gold Stock Down 4.1%

The stock has a fifty day moving average of $21.87 and a 200-day moving average of $19.12. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 1.56 and a beta of 0.84. The company has a current ratio of 2.07, a quick ratio of 1.25 and a debt-to-equity ratio of 0.03.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Thursday, October 29th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.33 by $0.04. Centerra Gold had a return on equity of 15.10% and a net margin of 23.67%. The business had revenue of $500.30 million during the quarter, compared to the consensus estimate of $440.83 million. As a group, sell-side analysts expect that Centerra Gold Inc. will post 1.57 EPS for the current year.

Centerra Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Thursday, November 19th will be issued a dividend of C$0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.3%. The ex-dividend date is Thursday, November 19th. Centerra Gold’s payout ratio is presently 9.30%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC increased its position in shares of Centerra Gold by 8,621.4% in the third quarter. Global Retirement Partners LLC now owns 1,221 shares of the company’s stock worth $27,000 after acquiring an additional 1,207 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Centerra Gold during the second quarter valued at approximately $28,000. Pinnacle Holdings LLC purchased a new stake in shares of Centerra Gold in the 2nd quarter valued at approximately $45,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Centerra Gold in the 2nd quarter valued at approximately $83,000. Finally, Parallel Advisors LLC lifted its position in shares of Centerra Gold by 97.8% in the 3rd quarter. Parallel Advisors LLC now owns 6,902 shares of the company’s stock valued at $150,000 after acquiring an additional 3,413 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Centerra Gold Company Profile

Centerra Gold Inc. is a Canadian mining company that acquires, explores, develops, and operates mineral properties, with a focus on gold and copper. Its principal producing assets include the Mount Milligan copper-gold mine in British Columbia, Canada, and the Öksüt gold mine in Türkiye. The company also owns the Thompson Creek molybdenum mine in Idaho, which is on care and maintenance, and the Langeloth metallurgical facility in Pennsylvania. These assets give Centerra exposure to both precious and industrial metals.