Centerra Gold Inc. $CGAU Stake Cut by CM Management LLC

CM Management LLC cut its holdings in shares of Centerra Gold Inc. (NYSE:CGAU) by 27.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 200,000 shares of the company’s stock after selling 75,000 shares during the quarter. Centerra Gold accounts for about 1.8% of CM Management LLC’s investment portfolio, making the stock its 18th largest holding. CM Management LLC’s holdings in Centerra Gold were worth $2,146,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. TD Waterhouse Canada Inc. increased its holdings in shares of Centerra Gold by 1,106.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 2,980 shares of the company’s stock valued at $33,000 after purchasing an additional 2,733 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of Centerra Gold by 63.0% during the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock worth $34,000 after purchasing an additional 1,839 shares during the period. State of Wyoming acquired a new stake in shares of Centerra Gold during the third quarter worth approximately $90,000. Olympiad Research LP purchased a new position in Centerra Gold during the second quarter valued at approximately $89,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in Centerra Gold during the second quarter valued at approximately $97,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Analysts Set New Price Targets

CGAU has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Centerra Gold in a research report on Monday, December 29th. Zacks Research upgraded shares of Centerra Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Centerra Gold in a research report on Wednesday, February 4th. Wall Street Zen downgraded Centerra Gold from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Finally, Scotiabank upped their target price on Centerra Gold from $13.50 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Centerra Gold presently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Centerra Gold Stock Performance

CGAU stock opened at $18.78 on Friday. The firm has a 50 day moving average of $17.60 and a two-hundred day moving average of $13.50. Centerra Gold Inc. has a 12 month low of $5.41 and a 12 month high of $21.17. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 6.61, a P/E/G ratio of 0.94 and a beta of 0.83. The company has a quick ratio of 1.65, a current ratio of 2.39 and a debt-to-equity ratio of 0.02.

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

Centerra Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Thursday, March 12th. Centerra Gold’s dividend payout ratio is presently 7.04%.

Centerra Gold 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.