Groupe la Francaise Acquires 290,000 Shares of Centerra Gold Inc. $CGAU

Groupe la Francaise lifted its holdings in shares of Centerra Gold Inc. (NYSE:CGAU) by 50.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 860,000 shares of the company’s stock after acquiring an additional 290,000 shares during the period. Groupe la Francaise’s holdings in Centerra Gold were worth $15,244,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CGAU. Cubist Systematic Strategies LLC acquired a new stake in Centerra Gold during the first quarter valued at approximately $192,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Centerra Gold in the 1st quarter worth approximately $97,000. Goldman Sachs Group Inc. raised its holdings in shares of Centerra Gold by 57.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock worth $84,739,000 after buying an additional 4,853,494 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Centerra Gold during the 1st quarter worth approximately $218,000. Finally, Geode Capital Management LLC lifted its position in shares of Centerra Gold by 20.3% during the 2nd quarter. Geode Capital Management LLC now owns 767,536 shares of the company’s stock worth $5,534,000 after buying an additional 129,737 shares during the period. Institutional investors own 55.40% of the company’s stock.

Centerra Gold Stock Performance

Shares of NYSE:CGAU opened at $18.33 on Friday. The business has a fifty day moving average of $16.32 and a 200-day moving average of $17.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.60 and a current ratio of 2.42. Centerra Gold Inc. has a twelve month low of $6.71 and a twelve month high of $21.17. The firm has a market cap of $3.63 billion, a PE ratio of 5.86, a price-to-earnings-growth ratio of 0.65 and a beta of 0.81.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. Centerra Gold had a net margin of 36.92% and a return on equity of 15.35%. The business had revenue of $442.71 million for the quarter, compared to the consensus estimate of $394.27 million. On average, equities research analysts predict that Centerra Gold Inc. will post 1.61 EPS for the current fiscal year.

Centerra Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. Centerra Gold’s payout ratio is currently 6.77%.

Analyst Ratings Changes

Several analysts recently commented on the company. Weiss Ratings lowered Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Scotiabank reissued an “outperform” rating on shares of Centerra Gold in a report on Tuesday, July 7th. Wall Street Zen downgraded shares of Centerra Gold from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Thursday. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.