Royal Bank of Canada Lowers Holdings in Centerra Gold Inc. $CGAU

Royal Bank of Canada trimmed its stake in Centerra Gold Inc. (NYSE:CGAU) by 22.6% during the 1st quarter, HoldingsChannel reports. The fund owned 822,541 shares of the company’s stock after selling 240,679 shares during the quarter. Royal Bank of Canada’s holdings in Centerra Gold were worth $14,633,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CGAU. Janney Montgomery Scott LLC boosted its position in Centerra Gold by 2.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 24,860 shares of the company’s stock worth $357,000 after purchasing an additional 575 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Centerra Gold by 2.1% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 36,939 shares of the company’s stock valued at $531,000 after purchasing an additional 747 shares during the last quarter. CWM LLC lifted its stake in shares of Centerra Gold by 5.3% in the 4th quarter. CWM LLC now owns 16,300 shares of the company’s stock worth $234,000 after purchasing an additional 820 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of Centerra Gold by 3.5% in the 1st quarter. Pictet Asset Management Holding SA now owns 39,102 shares of the company’s stock worth $693,000 after purchasing an additional 1,340 shares during the period. Finally, Baron Wealth Management LLC boosted its holdings in shares of Centerra Gold by 6.2% in the first quarter. Baron Wealth Management LLC now owns 27,602 shares of the company’s stock worth $491,000 after buying an additional 1,621 shares during the last quarter. 55.40% of the stock is owned by hedge funds and other institutional investors.

Centerra Gold Trading Up 7.2%

Shares of Centerra Gold stock opened at $21.25 on Friday. The company has a market capitalization of $4.17 billion, a P/E ratio of 6.79, a P/E/G ratio of 0.74 and a beta of 0.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.49 and a current ratio of 2.42. The company has a fifty day moving average of $16.55 and a 200 day moving average of $17.63. Centerra Gold Inc. has a fifty-two week low of $6.71 and a fifty-two week high of $21.48.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $442.71 million for the quarter, compared to analysts’ expectations of $394.27 million. Centerra Gold had a return on equity of 15.35% and a net margin of 36.92%. On average, sell-side analysts anticipate that Centerra Gold Inc. will post 1.63 earnings per share for the current fiscal year.

Centerra Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. Centerra Gold’s dividend payout ratio (DPR) is currently 6.71%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CGAU shares. Scotiabank restated an “outperform” rating on shares of Centerra Gold in a research report on Tuesday. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Centerra Gold in a research note on Thursday, July 30th. Wall Street Zen lowered Centerra Gold from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Weiss Ratings cut Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Centerra Gold has an average rating of “Moderate Buy” and a consensus target price of $17.50.

Centerra Gold Company Profile

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.