Old West Investment Management LLC Acquires Shares of 200,000 Centerra Gold Inc. (NYSE:CGAU)

Old West Investment Management LLC purchased a new stake in Centerra Gold Inc. (NYSE:CGAU) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 200,000 shares of the company’s stock, valued at approximately $1,344,000.

Several other institutional investors also recently made changes to their positions in CGAU. Dynamic Technology Lab Private Ltd bought a new stake in shares of Centerra Gold during the fourth quarter valued at about $98,000. Virtu Financial LLC purchased a new stake in shares of Centerra Gold during the 1st quarter worth about $113,000. DekaBank Deutsche Girozentrale acquired a new stake in Centerra Gold in the second quarter valued at approximately $131,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Centerra Gold in the second quarter worth $154,000. Finally, Artemis Investment Management LLP bought a new stake in Centerra Gold during the second quarter worth approximately $268,000. 55.40% of the stock is owned by institutional investors.

Centerra Gold Stock Down 0.1 %

CGAU stock opened at $6.88 on Tuesday. Centerra Gold Inc. has a 12 month low of $4.47 and a 12 month high of $7.51. The company’s 50-day moving average price is $6.83 and its two-hundred day moving average price is $6.53. The firm has a market cap of $1.47 billion, a P/E ratio of 25.48 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Thursday, August 1st. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.16 by $0.07. The business had revenue of $282.31 million for the quarter. Centerra Gold had a return on equity of 10.72% and a net margin of 10.68%. During the same quarter in the previous year, the company earned ($0.20) earnings per share. Equities analysts predict that Centerra Gold Inc. will post 0.81 EPS for the current year.

Centerra Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.051 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Thursday, August 15th. Centerra Gold’s dividend payout ratio is currently 74.07%.

Wall Street Analyst Weigh In

CGAU has been the topic of a number of recent research reports. Scotiabank lifted their price target on shares of Centerra Gold from $8.00 to $9.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 23rd. Cibc World Mkts lowered Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, CIBC restated a “neutral” rating and set a $13.00 target price (up from $11.00) on shares of Centerra Gold in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.80.

Centerra Gold Profile

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.