Centerra Gold (NYSE:CGAU) Trading Down 3.5% – Should You Sell?

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

Centerra Gold Stock Performance

The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 12.31 and a beta of 0.98. The business has a 50-day moving average of $6.86 and a 200-day moving average of $6.85.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Thursday, October 31st. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $323.93 million for the quarter. Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. During the same quarter in the previous year, the business posted $0.20 EPS. On average, research analysts predict that Centerra Gold Inc. will post 0.81 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $0.052 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 dividend on an annualized basis and a yield of 3.52%. Centerra Gold’s payout ratio is currently 43.75%.

Institutional Investors Weigh In On Centerra Gold

Several hedge funds have recently made changes to their positions in the business. CWM LLC purchased a new stake in Centerra Gold during the 3rd quarter valued at approximately $57,000. Capstone Investment Advisors LLC purchased a new stake in shares of Centerra Gold during the third quarter worth approximately $89,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Centerra Gold by 12.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock worth $96,000 after purchasing an additional 1,573 shares during the period. Virtu Financial LLC purchased a new position in Centerra Gold in the 1st quarter valued at $113,000. Finally, HighTower Advisors LLC purchased a new position in Centerra Gold in the 3rd quarter valued at $127,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

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.