Public Employees Retirement System of Ohio Takes Position in Centerra Gold Inc. $CGAU

Public Employees Retirement System of Ohio bought a new position in shares of Centerra Gold Inc. (NYSE:CGAU) during the second quarter, according to its most recent filing with the SEC. The fund bought 916,876 shares of the company’s stock, valued at approximately $14,535,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new position in Centerra Gold during the first quarter valued at about $192,000. Dynamic Technology Lab Private Ltd bought a new stake in Centerra Gold in the first quarter worth about $97,000. Goldman Sachs Group Inc. raised its position in Centerra Gold by 57.2% in the first quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock worth $84,739,000 after acquiring an additional 4,853,494 shares during the period. Empowered Funds LLC purchased a new position in Centerra Gold in the first quarter valued at about $218,000. Finally, Geode Capital Management LLC boosted its stake in Centerra Gold by 20.3% in the second 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 last quarter. 55.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CGAU has been the subject of several research analyst reports. Scotiabank restated an “outperform” rating on shares of Centerra Gold in a research note on Tuesday, August 4th. Weiss Ratings downgraded Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Wall Street Zen lowered Centerra Gold from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Centerra Gold in a research report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.50.

Centerra Gold Stock Up 0.2%

CGAU opened at $23.48 on Monday. Centerra Gold Inc. has a 12 month low of $7.84 and a 12 month high of $24.52. The company has a market cap of $4.61 billion, a PE ratio of 7.50, a price-to-earnings-growth ratio of 0.88 and a beta of 0.80. The company has a current ratio of 2.42, a quick ratio of 1.49 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $18.43 and a 200 day moving average of $18.13.

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

Centerra Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, August 19th. Centerra Gold’s payout ratio is presently 6.39%.

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.