Vanguard Group Inc. Sells 30,917 Shares of Centerra Gold Inc. $CGAU

Vanguard Group Inc. trimmed its position in Centerra Gold Inc. (NYSE:CGAU) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,338,134 shares of the company’s stock after selling 30,917 shares during the quarter. Vanguard Group Inc. owned approximately 4.14% of Centerra Gold worth $89,335,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new position in Centerra Gold during the 1st quarter valued at about $192,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Centerra Gold during the first quarter worth approximately $97,000. Goldman Sachs Group Inc. lifted its holdings in Centerra Gold by 57.2% in 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. Empowered Funds LLC bought a new position in Centerra Gold in the first quarter valued at approximately $218,000. Finally, Savant Capital LLC bought a new stake in shares of Centerra Gold during the 2nd quarter valued at $130,000. 55.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CGAU shares. Zacks Research raised Centerra Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. Scotiabank raised their target price on Centerra Gold from $13.50 to $19.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Centerra Gold in a research note on Monday, December 29th. BMO Capital Markets upgraded shares of Centerra Gold from a “hold” rating to an “outperform” rating in a research report on Tuesday, January 20th. Finally, Wall Street Zen cut shares of Centerra Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Centerra Gold Trading Down 4.9%

NYSE CGAU opened at $18.42 on Friday. Centerra Gold Inc. has a one year low of $5.41 and a one year high of $21.17. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.65. The firm has a market cap of $3.68 billion, a P/E ratio of 6.49, a P/E/G ratio of 0.97 and a beta of 0.83. The stock’s 50-day moving average is $17.52 and its 200-day moving average is $13.38.

Centerra Gold (NYSE:CGAU) last posted its earnings results on Thursday, February 19th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Centerra Gold had a return on equity of 12.42% and a net margin of 42.18%.The business had revenue of $401.60 million during the quarter, compared to analysts’ expectations of $355.39 million. Sell-side analysts anticipate that Centerra Gold Inc. will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Thursday, March 12th. Centerra Gold’s dividend payout ratio (DPR) is presently 7.04%.

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.