U S Global Investors Inc. trimmed its position in shares of Centerra Gold Inc. (NYSE:CGAU – Free Report) by 39.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 438,452 shares of the company’s stock after selling 283,469 shares during the period. Centerra Gold makes up about 0.9% of U S Global Investors Inc.’s holdings, making the stock its 29th largest holding. U S Global Investors Inc. owned about 0.22% of Centerra Gold worth $7,802,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Polar Asset Management Partners Inc. purchased a new position in Centerra Gold during the 3rd quarter valued at about $2,036,000. JPMorgan Chase & Co. increased its stake in Centerra Gold by 146.2% during the third quarter. JPMorgan Chase & Co. now owns 1,367,172 shares of the company’s stock worth $14,670,000 after purchasing an additional 811,803 shares during the period. Intact Investment Management Inc. lifted its position in shares of Centerra Gold by 166.7% during the fourth quarter. Intact Investment Management Inc. now owns 1,514,820 shares of the company’s stock worth $21,807,000 after purchasing an additional 946,920 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. lifted its position in shares of Centerra Gold by 99.8% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 94,100 shares of the company’s stock worth $1,366,000 after purchasing an additional 47,000 shares in the last quarter. Finally, Kingsview Wealth Management LLC purchased a new position in shares of Centerra Gold in the fourth quarter valued at approximately $443,000. 55.40% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have commented on CGAU. Scotiabank reissued an “outperform” rating on shares of Centerra Gold in a research report on Tuesday. Wall Street Zen raised Centerra Gold from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Zacks Research cut Centerra Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Centerra Gold in a report on Friday, March 27th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.67.
Centerra Gold Stock Up 0.1%
Shares of CGAU stock traded up $0.02 during trading hours on Friday, reaching $16.23. 1,489,937 shares of the stock were exchanged, compared to its average volume of 1,528,338. The business’s fifty day moving average is $16.73 and its two-hundred day moving average is $17.38. The firm has a market capitalization of $3.21 billion, a P/E ratio of 5.24, a P/E/G ratio of 0.61 and a beta of 0.81. Centerra Gold Inc. has a 12-month low of $6.71 and a 12-month high of $21.17. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.60.
Centerra Gold (NYSE:CGAU – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Centerra Gold had a net margin of 40.32% and a return on equity of 14.90%. The company had revenue of $484.70 million during the quarter, compared to the consensus estimate of $373.47 million. As a group, research analysts expect that Centerra Gold Inc. will post 1.61 EPS for the current fiscal year.
Centerra Gold Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, May 21st. Centerra Gold’s payout ratio is 6.77%.
About Centerra Gold
Centerra Gold Inc is a gold mining company incorporated in Canada and headquartered in Toronto. The company specializes in the exploration, development and operation of precious metals properties, with a focus on gold production. Centerra’s portfolio includes the Mount Milligan mine in British Columbia, Canada, and the Otjikoto mine in Namibia. Both operations produce gold and copper concentrates and employ modern mining methods and processing facilities to optimize recovery rates and minimize environmental impact.
In addition to its producing assets, Centerra is advancing the development of its Greenstone Gold Project in Ontario, Canada, which, upon completion, is expected to become one of Canada’s largest gold mines.
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