Legal & General Group Plc Sells 43,334 Shares of Centerra Gold Inc. $CGAU

Legal & General Group Plc cut its stake in shares of Centerra Gold Inc. (NYSE:CGAU) by 4.0% in the 4th quarter, HoldingsChannel reports. The firm owned 1,038,763 shares of the company’s stock after selling 43,334 shares during the period. Legal & General Group Plc’s holdings in Centerra Gold were worth $14,974,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Burkett Financial Services LLC increased its holdings in shares of Centerra Gold by 27.5% in the 4th quarter. Burkett Financial Services LLC now owns 3,569 shares of the company’s stock worth $51,000 after buying an additional 769 shares during the last quarter. CWM LLC lifted its holdings in shares of Centerra Gold by 5.3% during the 4th quarter. CWM LLC now owns 16,300 shares of the company’s stock worth $234,000 after acquiring an additional 820 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Centerra Gold by 63.0% during the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock worth $34,000 after acquiring an additional 1,839 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Centerra Gold in the fourth quarter worth $36,000. Finally, Baron Wealth Management LLC grew its position in Centerra Gold by 10.8% in the fourth quarter. Baron Wealth Management LLC now owns 25,981 shares of the company’s stock worth $373,000 after acquiring an additional 2,542 shares in the last quarter. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CGAU. Wall Street Zen downgraded Centerra Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 25th. Zacks Research cut Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Scotiabank raised their price objective on Centerra Gold from $19.00 to $21.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Centerra Gold in a research report on Friday, March 27th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Centerra Gold in a research note on Wednesday, February 4th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.67.

Centerra Gold Stock Performance

Centerra Gold stock opened at $17.41 on Wednesday. The firm has a fifty day simple moving average of $17.91 and a two-hundred day simple moving average of $16.75. The company has a quick ratio of 1.60, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. Centerra Gold Inc. has a twelve month low of $6.71 and a twelve month high of $21.17. The company has a market capitalization of $3.46 billion, a PE ratio of 5.62, a P/E/G ratio of 0.81 and a beta of 0.79.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $484.70 million for the quarter, compared to analysts’ expectations of $373.47 million. Centerra Gold had a return on equity of 14.90% and a net margin of 40.32%. Research analysts expect that Centerra Gold Inc. will post 1.79 EPS for the current year.

Centerra Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.6%. The ex-dividend date is Thursday, May 21st. Centerra Gold’s dividend payout ratio (DPR) is presently 6.77%.

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.