Centerra Gold (TSE:CG) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Centerra Gold Inc. (TSE:CG) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$9.04 and traded as high as C$9.78. Centerra Gold shares last traded at C$9.70, with a volume of 793,210 shares traded.

Wall Street Analysts Forecast Growth

CG has been the subject of a number of research reports. CIBC reduced their price objective on Centerra Gold from C$12.50 to C$9.80 in a research report on Monday, December 2nd. Desjardins upgraded Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st. Royal Bank of Canada reduced their target price on shares of Centerra Gold from C$12.00 to C$11.00 in a research note on Tuesday, January 7th. Finally, Raymond James dropped their price target on shares of Centerra Gold from C$13.00 to C$12.50 in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$11.28.

Centerra Gold Stock Performance

The company has a quick ratio of 3.24, a current ratio of 3.79 and a debt-to-equity ratio of 1.29. The stock’s 50-day moving average price is C$8.52 and its 200 day moving average price is C$9.04. The company has a market cap of C$2.06 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 1.26 and a beta of 1.23.

Centerra Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 27th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend was Wednesday, November 13th. Centerra Gold’s dividend payout ratio is 33.33%.

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.