Lazard Asset Management LLC Sells 121,167 Shares of Centerra Gold Inc. $CGAU

Lazard Asset Management LLC lowered its stake in shares of Centerra Gold Inc. (NYSE:CGAU) by 80.4% in the first quarter, Holdings Channel reports. The institutional investor owned 29,455 shares of the company’s stock after selling 121,167 shares during the period. Lazard Asset Management LLC’s holdings in Centerra Gold were worth $524,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Global Retirement Partners LLC purchased a new position in shares of Centerra Gold in the 4th quarter valued at $36,000. Osaic Holdings Inc. lifted its stake in shares of Centerra Gold by 63.0% during the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock worth $34,000 after purchasing an additional 1,839 shares during the last quarter. Leonteq Securities AG purchased a new stake in shares of Centerra Gold during the 4th quarter worth $72,000. C M Bidwell & Associates Ltd. bought a new stake in Centerra Gold during the fourth quarter valued at about $100,000. Finally, Kestra Advisory Services LLC bought a new stake in Centerra Gold during the fourth quarter valued at about $115,000. Institutional investors own 55.40% of the company’s stock.

Centerra Gold Trading Up 1.9%

Shares of NYSE:CGAU opened at $19.83 on Friday. The business’s 50-day moving average is $16.48 and its 200 day moving average is $17.61. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.42 and a quick ratio of 1.49. Centerra Gold Inc. has a 1 year low of $6.71 and a 1 year high of $21.17. The firm has a market capitalization of $3.89 billion, a P/E ratio of 6.34, a P/E/G ratio of 0.73 and a beta of 0.80.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $442.71 million for the quarter, compared to analyst estimates of $394.27 million. Centerra Gold had a return on equity of 15.35% and a net margin of 36.92%. On average, research analysts predict that Centerra Gold Inc. will post 1.63 earnings per share for the current fiscal year.

Centerra Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. Centerra Gold’s payout ratio is currently 6.71%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CGAU. Weiss Ratings lowered Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Scotiabank reissued an “outperform” rating on shares of Centerra Gold in a research report on Tuesday. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Centerra Gold in a report on Thursday, July 30th. Finally, Wall Street Zen downgraded shares of Centerra Gold from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.50.

Centerra Gold Profile

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.