200,000 Shares in Centerra Gold Inc. (NYSE:CGAU) Acquired by Old West Investment Management LLC

Old West Investment Management LLC bought a new position in shares of Centerra Gold Inc. (NYSE:CGAU) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 200,000 shares of the company’s stock, valued at approximately $1,344,000. Old West Investment Management LLC owned 0.09% of Centerra Gold as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC lifted its stake in shares of Centerra Gold by 594.6% during the 2nd quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company’s stock worth $59,532,000 after purchasing an additional 7,586,370 shares during the last quarter. Pale Fire Capital SE raised its holdings in Centerra Gold by 1,136.9% in the fourth quarter. Pale Fire Capital SE now owns 1,807,787 shares of the company’s stock worth $10,774,000 after purchasing an additional 1,661,638 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Centerra Gold by 7.6% during the first quarter. Van ECK Associates Corp now owns 22,034,754 shares of the company’s stock valued at $130,191,000 after buying an additional 1,552,601 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Centerra Gold by 132.8% in the 2nd quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock valued at $12,345,000 after buying an additional 1,047,142 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Centerra Gold in the 2nd quarter worth approximately $6,772,000. Institutional investors own 55.40% of the company’s stock.

Centerra Gold Stock Down 0.1 %

Shares of CGAU stock opened at $6.88 on Tuesday. Centerra Gold Inc. has a 52-week low of $4.47 and a 52-week high of $7.51. The stock’s 50-day moving average price is $6.83 and its 200 day moving average price is $6.53. The stock has a market capitalization of $1.47 billion, a PE ratio of 25.48 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last released its earnings results on Thursday, August 1st. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.07. Centerra Gold had a return on equity of 10.72% and a net margin of 10.68%. The company had revenue of $282.31 million during the quarter. During the same period last year, the business posted ($0.20) EPS. Analysts expect that Centerra Gold Inc. will post 0.81 earnings per share for the current fiscal year.

Centerra Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.051 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Thursday, August 15th. Centerra Gold’s dividend payout ratio (DPR) is 74.07%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CGAU shares. Cibc World Mkts cut shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. CIBC reiterated a “neutral” rating and issued a $13.00 price target (up from $11.00) on shares of Centerra Gold in a research note on Wednesday, July 10th. Finally, Scotiabank upped their target price on shares of Centerra Gold from $8.00 to $9.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Centerra Gold has an average rating of “Moderate Buy” and a consensus target price of $9.80.

About Centerra Gold

Centerra Gold Inc, a gold mining company, engages in the acquisition, exploration, development, and operation of gold and copper properties in North America, Turkey, and internationally. The company explores for gold, copper, and molybdenum deposits. Its flagship projects are the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt gold mine located in Turkey.