Centerra Gold Inc. (NYSE:CGAU) Stock Position Lowered by Helikon Investments Ltd

Helikon Investments Ltd reduced its holdings in shares of Centerra Gold Inc. (NYSE:CGAU) by 43.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,215,352 shares of the company’s stock after selling 2,455,052 shares during the quarter. Centerra Gold makes up 1.6% of Helikon Investments Ltd’s investment portfolio, making the stock its 9th largest position. Helikon Investments Ltd owned approximately 1.50% of Centerra Gold worth $19,003,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its stake in shares of Centerra Gold by 1.2% during the 4th quarter. Van ECK Associates Corp now owns 20,482,153 shares of the company’s stock worth $122,339,000 after purchasing an additional 244,155 shares in the last quarter. Donald Smith & CO. Inc. raised its holdings in shares of Centerra Gold by 27.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 9,879,956 shares of the company’s stock worth $58,885,000 after acquiring an additional 2,156,920 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Centerra Gold by 2.8% in the third quarter. Vanguard Group Inc. now owns 8,031,893 shares of the company’s stock valued at $39,356,000 after acquiring an additional 220,263 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Centerra Gold by 8.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,164,687 shares of the company’s stock valued at $18,862,000 after acquiring an additional 247,027 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Centerra Gold by 2.9% during the fourth quarter. Wellington Management Group LLP now owns 3,070,263 shares of the company’s stock valued at $18,418,000 after acquiring an additional 87,248 shares during the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. National Bank Financial restated an “outperform overweight” rating on shares of Centerra Gold in a report on Monday, April 8th. Scotiabank raised their target price on shares of Centerra Gold from $8.00 to $9.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 23rd. Finally, CIBC lifted their target price on shares of Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a research note on Monday, April 15th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $9.30.

Centerra Gold Stock Up 1.3 %

Shares of CGAU traded up $0.08 during mid-day trading on Tuesday, hitting $6.74. The company had a trading volume of 582,616 shares, compared to its average volume of 474,430. Centerra Gold Inc. has a 1-year low of $4.47 and a 1-year high of $7.51. The business’s 50-day simple moving average is $6.74 and its 200-day simple moving average is $6.01. The stock has a market cap of $1.44 billion, a PE ratio of 24.94 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings results on Tuesday, May 14th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The company had revenue of $305.88 million for the quarter. Centerra Gold had a return on equity of 5.58% and a net margin of 4.99%. During the same quarter in the prior year, the company posted ($0.24) earnings per share. On average, sell-side analysts expect that Centerra Gold Inc. will post 0.78 earnings per share for the current year.

Centerra Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 29th were paid a dividend of $0.051 per share. The ex-dividend date was Wednesday, May 29th. This represents a $0.20 annualized dividend and a yield of 3.03%. Centerra Gold’s dividend payout ratio is presently 74.07%.

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.