Centerra Gold (NYSE:CGAU) Sees Unusually-High Trading Volume After Analyst Upgrade

Centerra Gold Inc. (NYSE:CGAUGet Rating) saw an uptick in trading volume on Friday after National Bank Financial raised their price target on the stock from C$10.50 to C$11.50. 3,719 shares changed hands during trading, a decline of 98% from the previous session’s volume of 148,900 shares.The stock last traded at $6.07 and had previously closed at $5.97.

CGAU has been the subject of a number of other reports. Raymond James cut their target price on Centerra Gold from C$10.50 to C$10.00 in a research note on Wednesday, November 9th. TD Securities raised their price objective on Centerra Gold from C$7.00 to C$7.50 in a research note on Tuesday, November 8th.

Hedge Funds Weigh In On Centerra Gold

Several hedge funds have recently bought and sold shares of CGAU. Great West Life Assurance Co. Can increased its position in Centerra Gold by 31.5% during the third quarter. Great West Life Assurance Co. Can now owns 17,862 shares of the company’s stock worth $78,000 after buying an additional 4,281 shares in the last quarter. Banque Cantonale Vaudoise increased its position in Centerra Gold by 18.1% during the third quarter. Banque Cantonale Vaudoise now owns 54,486 shares of the company’s stock worth $241,000 after buying an additional 8,356 shares in the last quarter. Barclays PLC purchased a new position in Centerra Gold during the third quarter worth $41,000. Toronto Dominion Bank increased its position in Centerra Gold by 5.1% during the second quarter. Toronto Dominion Bank now owns 194,463 shares of the company’s stock worth $1,318,000 after buying an additional 9,411 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its position in Centerra Gold by 125.9% during the first quarter. Vontobel Holding Ltd. now owns 23,743 shares of the company’s stock worth $233,000 after buying an additional 13,233 shares in the last quarter. 51.63% of the stock is owned by hedge funds and other institutional investors.

Centerra Gold Price Performance

The firm has a 50-day simple moving average of $5.28 and a two-hundred day simple moving average of $5.18. The company has a market cap of $1.35 billion, a PE ratio of 5.76 and a beta of 0.61.

Centerra Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 2nd. Stockholders of record on Friday, November 18th were issued a dividend of $0.051 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Thursday, November 17th. Centerra Gold’s dividend payout ratio (DPR) is 19.63%.

About Centerra Gold

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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 include the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt Gold Mine located in Turkey.

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