Centerra Gold (NYSE:CGAU) Sees Large Volume Increase

Centerra Gold Inc. (NYSE:CGAU) shares saw unusually-strong trading volume on Friday . Approximately 3,651 shares changed hands during mid-day trading, a decline of 95% from the previous session’s volume of 68,379 shares.The stock last traded at $6.95 and had previously closed at $6.92.

CGAU has been the topic of several research analyst reports. Credit Suisse Group raised their price target on shares of Centerra Gold from C$9.50 to C$10.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 13th. Raymond James reaffirmed a “hold” rating and issued a $11.00 target price on shares of Centerra Gold in a research note on Friday, July 9th. Zacks Investment Research raised shares of Centerra Gold from a “sell” rating to a “hold” rating in a research note on Thursday, September 9th. TheStreet downgraded shares of Centerra Gold from a “b-” rating to a “c+” rating in a research note on Tuesday, August 10th. Finally, National Bank Financial boosted their price objective on shares of Centerra Gold from C$11.50 to C$12.00 and gave the company an “outperform” rating in a report on Friday, September 10th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Centerra Gold has an average rating of “Hold” and an average target price of $11.07.

The firm has a market cap of $2.05 billion and a P/E ratio of -5.23. The company has a 50 day simple moving average of $7.41.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings results on Monday, August 9th. The company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.12. Centerra Gold had a positive return on equity of 19.28% and a negative net margin of 25.45%. The firm had revenue of $202.26 million for the quarter. Equities analysts predict that Centerra Gold Inc. will post 0.65 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 8th. Investors of record on Wednesday, August 25th were issued a dividend of $0.0556 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Tuesday, August 24th. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio is currently 14.19%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Centerra Gold during the second quarter valued at $84,000. Great West Life Assurance Co. Can bought a new position in shares of Centerra Gold in the second quarter worth about $103,000. Alliancebernstein L.P. purchased a new position in Centerra Gold during the 2nd quarter valued at approximately $136,000. Creative Planning purchased a new position in Centerra Gold during the 2nd quarter valued at approximately $152,000. Finally, Prudential PLC purchased a new position in Centerra Gold during the 2nd quarter valued at approximately $157,000. Institutional investors and hedge funds own 35.26% of the company’s stock.

About Centerra Gold (NYSE:CGAU)

Centerra Gold, Inc engages in the operation, development, exploration and acquisition of gold and copper properties. It operates through the following segments: Kumtor, Mount Milligan, and Öksüt. The company was founded on November 7, 2002 and is headquartered in Toronto, Canada.

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