Franklin Resources Inc. Sells 142,997 Shares of Centerra Gold Inc. $CGAU

Franklin Resources Inc. lowered its holdings in Centerra Gold Inc. (NYSE:CGAU) by 23.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 459,727 shares of the company’s stock after selling 142,997 shares during the period. Franklin Resources Inc.’s holdings in Centerra Gold were worth $3,314,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of CGAU. Farther Finance Advisors LLC bought a new stake in shares of Centerra Gold in the second quarter valued at approximately $27,000. Pinnacle Holdings LLC bought a new position in Centerra Gold during the first quarter worth $39,000. Carrera Capital Advisors acquired a new position in Centerra Gold during the 2nd quarter valued at $81,000. Olympiad Research LP bought a new stake in Centerra Gold in the 2nd quarter valued at $89,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Centerra Gold in the 1st quarter valued at $97,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada downgraded shares of Centerra Gold from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $13.00 to $14.00 in a report on Wednesday, September 10th. Cormark upgraded Centerra Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, October 30th. BMO Capital Markets reiterated a “market perform” rating on shares of Centerra Gold in a research report on Monday, September 15th. Scotiabank reissued an “outperform” rating on shares of Centerra Gold in a report on Thursday, October 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Centerra Gold in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $14.17.

Centerra Gold Stock Down 1.7%

NYSE CGAU opened at $13.06 on Wednesday. Centerra Gold Inc. has a 1-year low of $5.41 and a 1-year high of $13.47. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of 7.96, a PEG ratio of 0.50 and a beta of 0.88. The stock’s 50 day moving average is $11.65 and its two-hundred day moving average is $9.00. The company has a current ratio of 2.89, a quick ratio of 2.10 and a debt-to-equity ratio of 0.02.

Centerra Gold (NYSE:CGAU) last posted its earnings results on Tuesday, October 28th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. The business had revenue of $395.20 million during the quarter, compared to the consensus estimate of $314.74 million. Centerra Gold had a return on equity of 10.47% and a net margin of 26.35%. Equities analysts forecast that Centerra Gold Inc. will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Thursday, November 13th. Centerra Gold’s payout ratio is currently 12.20%.

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.