PKO Investment Management Joint Stock Co Makes New $1.54 Million Investment in Centerra Gold Inc. $CGAU

PKO Investment Management Joint Stock Co bought a new stake in shares of Centerra Gold Inc. (NYSE:CGAU) in the first quarter, HoldingsChannel reports. The institutional investor bought 87,000 shares of the company’s stock, valued at approximately $1,544,000.

Several other hedge funds have also made changes to their positions in CGAU. Global Retirement Partners LLC purchased a new position in shares of Centerra Gold during the fourth quarter valued at $36,000. Burkett Financial Services LLC purchased a new stake in Centerra Gold in the third quarter worth about $30,000. Osaic Holdings Inc. lifted its stake in Centerra Gold by 63.0% in the second 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 period. Leonteq Securities AG bought a new position in Centerra Gold during the 4th quarter worth about $72,000. Finally, C M Bidwell & Associates Ltd. bought a new position in Centerra Gold during the 4th quarter worth about $100,000. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Centerra Gold Price Performance

Shares of NYSE CGAU opened at $16.61 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.60 and a current ratio of 2.41. The company has a market cap of $3.30 billion, a PE ratio of 5.36, a P/E/G ratio of 0.79 and a beta of 0.79. The business has a 50-day simple moving average of $17.56 and a two-hundred day simple moving average of $17.17. Centerra Gold Inc. has a fifty-two week low of $6.71 and a fifty-two week high of $21.17.

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

Centerra Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were paid a $0.07 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.28 dividend on an annualized basis and a yield of 1.7%. Centerra Gold’s dividend payout ratio (DPR) is 6.77%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Zacks Research lowered shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Scotiabank increased their price objective on shares of Centerra Gold from $19.00 to $21.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Wall Street Zen raised shares of Centerra Gold from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Centerra Gold in a research note on Friday, March 27th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.67.

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.