Cibc World Market Inc. Trims Holdings in Centerra Gold Inc. $CGAU

Cibc World Market Inc. trimmed its stake in Centerra Gold Inc. (NYSE:CGAU) by 75.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 93,828 shares of the company’s stock after selling 288,544 shares during the period. Cibc World Market Inc.’s holdings in Centerra Gold were worth $1,351,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CGAU. Cubist Systematic Strategies LLC purchased a new stake in shares of Centerra Gold in the 1st quarter valued at approximately $192,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Centerra Gold in the 1st quarter valued at approximately $97,000. Goldman Sachs Group Inc. raised its stake in shares of Centerra Gold by 57.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock valued at $84,739,000 after acquiring an additional 4,853,494 shares during the period. Empowered Funds LLC purchased a new stake in shares of Centerra Gold in the 1st quarter valued at approximately $218,000. Finally, Geode Capital Management LLC raised its stake in shares of Centerra Gold by 20.3% in the 2nd quarter. Geode Capital Management LLC now owns 767,536 shares of the company’s stock valued at $5,534,000 after acquiring an additional 129,737 shares during the period. 55.40% of the stock is owned by hedge funds and other institutional investors.

Centerra Gold Trading Down 1.1%

Shares of CGAU stock opened at $15.41 on Wednesday. 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 stock has a market capitalization of $3.06 billion, a P/E ratio of 4.97, a price-to-earnings-growth ratio of 0.74 and a beta of 0.79. The company has a 50 day moving average price of $17.88 and a 200 day moving average price of $16.93. 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 announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $484.70 million during the quarter, compared to analysts’ expectations of $373.47 million. Centerra Gold had a net margin of 40.32% and a return on equity of 14.90%. Equities research analysts predict that Centerra Gold Inc. will post 1.79 EPS for the current fiscal year.

Centerra Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.8%. The ex-dividend date was Thursday, May 21st. Centerra Gold’s payout ratio is 6.77%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Scotiabank boosted their price target 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 downgraded shares of Centerra Gold from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 25th. Zacks Research cut shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Centerra Gold in a report on Friday, March 27th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Centerra Gold presently 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.