Edmond DE Rothschild Holding S.A. purchased a new stake in Centerra Gold Inc. (NYSE:CGAU – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 500,000 shares of the company’s stock, valued at approximately $7,899,000.
Other hedge funds have also recently modified their holdings of the company. Donald Smith & CO. Inc. boosted its stake in shares of Centerra Gold by 21.8% during the fourth quarter. Donald Smith & CO. Inc. now owns 14,158,116 shares of the company’s stock valued at $203,452,000 after purchasing an additional 2,535,492 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Centerra Gold by 57.2% during the first quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock valued at $84,739,000 after buying an additional 4,853,494 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Centerra Gold by 0.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 8,314,250 shares of the company’s stock worth $147,899,000 after buying an additional 39,315 shares in the last quarter. Van ECK Associates Corp raised its stake in Centerra Gold by 15.3% in the fourth quarter. Van ECK Associates Corp now owns 6,536,157 shares of the company’s stock worth $93,929,000 after buying an additional 866,977 shares in the last quarter. Finally, Man Group plc lifted its holdings in Centerra Gold by 9.7% during the second quarter. Man Group plc now owns 3,649,899 shares of the company’s stock worth $26,241,000 after buying an additional 323,860 shares during the period. Hedge funds and other institutional investors own 55.40% of the company’s stock.
Centerra Gold Stock Up 6.3%
Shares of Centerra Gold stock opened at $22.62 on Thursday. The company has a quick ratio of 1.49, a current ratio of 2.42 and a debt-to-equity ratio of 0.03. The company has a market cap of $4.44 billion, a P/E ratio of 7.23, a PEG ratio of 0.79 and a beta of 0.80. The firm’s 50 day moving average price is $17.44 and its 200-day moving average price is $17.81. Centerra Gold Inc. has a 52-week low of $7.13 and a 52-week high of $23.14.
Centerra Gold Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, August 19th. Centerra Gold’s dividend payout ratio is currently 6.71%.
Analyst Ratings Changes
Several analysts have issued reports on the company. Weiss Ratings cut Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Scotiabank reissued an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, August 4th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Centerra Gold in a research note on Thursday, July 30th. Finally, Wall Street Zen downgraded Centerra Gold from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.50.
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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