Centerra Gold (NYSE:CGAU) Shares Down 3.2% on Analyst Downgrade

Shares of Centerra Gold Inc. (NYSE:CGAU) traded down 3.2% on Wednesday after Scotiabank lowered their price target on the stock from $10.00 to $9.00. Scotiabank currently has a sector outperform rating on the stock. Centerra Gold traded as low as $5.79 and last traded at $5.82. Approximately 142,979 shares changed hands during trading, a decline of 77% from the average session volume of 615,769 shares. The stock had previously closed at $6.01.

Separately, Desjardins upgraded shares of Centerra Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CGAU. CWM LLC acquired a new position in shares of Centerra Gold during the 3rd quarter worth $57,000. Capstone Investment Advisors LLC acquired a new stake in Centerra Gold during the third quarter worth approximately $89,000. Vanguard Personalized Indexing Management LLC grew its stake in Centerra Gold by 12.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock worth $96,000 after acquiring an additional 1,573 shares during the period. HighTower Advisors LLC acquired a new position in Centerra Gold in the 3rd quarter valued at $127,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Centerra Gold during the second quarter worth $131,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Centerra Gold Stock Performance

The firm has a fifty day simple moving average of $5.91 and a 200 day simple moving average of $6.58. The company has a market cap of $1.23 billion, a PE ratio of 12.22 and a beta of 0.90.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. The firm had revenue of $323.93 million for the quarter. During the same period in the previous year, the company earned $0.20 EPS. As a group, equities analysts predict that Centerra Gold Inc. will post 0.77 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.052 dividend. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date was Wednesday, November 13th. This represents a $0.21 annualized dividend and a yield of 3.55%. Centerra Gold’s dividend payout ratio (DPR) is 45.83%.

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.