315,182 Centerra Gold Inc. $CGAU Shares Bought by Montrusco Bolton Investments Inc.

Key Points

• Montrusco Bolton Investments increased its Centerra Gold stake by 82.6% in the third quarter, acquiring 315,182 additional shares and bringing its holdings to 696,739 shares valued at approximately $15.2 million.
• Institutional investors own 55.4% of Centerra Gold, while the company reported quarterly EPS of $0.39—slightly above estimates—and revenue of $442.7 million, ahead of expectations.
• Centerra Gold pays an annualized C$0.28 dividend yielding about 1.3%. Analysts’ consensus rating is “Moderate Buy”, with a target price of $21.00, although recent ratings ranged from “outperform” to “strong sell.”

Montrusco Bolton Investments Inc. lifted its stake in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) by 82.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 696,739 shares of the company's stock after acquiring an additional 315,182 shares during the quarter. Montrusco Bolton Investments Inc. owned approximately 0.36% of Centerra Gold worth $15,228,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Donald Smith & CO. Inc. purchased a new stake in shares of Centerra Gold in the 2nd quarter worth $245,004,000. Arrowstreet Capital Limited Partnership increased its position in Centerra Gold by 0.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,314,250 shares of the company's stock valued at $147,899,000 after purchasing an additional 39,315 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Centerra Gold in the 2nd quarter valued at about $37,142,000. Heartland Advisors Inc. raised its holdings in shares of Centerra Gold by 0.7% in the 1st quarter. Heartland Advisors Inc. now owns 2,216,216 shares of the company's stock valued at $39,426,000 after purchasing an additional 14,766 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC bought a new position in shares of Centerra Gold during the second quarter valued at approximately $32,524,070. Institutional investors own 55.40% of the company's stock.

Centerra Gold Stock Performance

Shares of CGAU traded down $0.66 during trading hours on Tuesday, reaching $21.84. 1,607,382 shares of the company traded hands, compared to its average volume of 1,743,275. The stock has a market capitalization of $4.27 billion, a P/E ratio of 6.98, a P/E/G ratio of 0.86 and a beta of 0.84. The company has a quick ratio of 1.49, a current ratio of 2.42 and a debt-to-equity ratio of 0.03. Centerra Gold Inc. has a 12-month low of $10.46 and a 12-month high of $24.52. The business has a fifty day moving average price of $22.24 and a 200-day moving average price of $18.95.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. The company had revenue of $442.71 million during the quarter, compared to analysts' expectations of $394.27 million. Centerra Gold had a return on equity of 15.35% and a net margin of 36.92%. Equities analysts anticipate that Centerra Gold Inc. will post 1.60 EPS for the current fiscal year.

Centerra Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were given a C$0.07 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. Centerra Gold's dividend payout ratio is currently 6.39%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CGAU shares. Scotiabank restated an "outperform" rating on shares of Centerra Gold in a research note on Tuesday, August 4th. Weiss Ratings upgraded Centerra Gold from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, August 31st. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Centerra Gold in a report on Thursday, July 30th. Wall Street Zen downgraded shares of Centerra Gold from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Zacks Research downgraded shares of Centerra Gold from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 6th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.00.

About Centerra Gold

Centerra Gold Inc is a Canadian-based, intermediate gold and copper producer headquartered in Toronto, Ontario. The company explores, develops and operates precious- and base-metal properties, with a focus on responsible mining and the production of gold and copper concentrates and doré.

Centerra's principal operating assets include the Mount Milligan copper-gold mine in British Columbia, Canada, and the Öksüt gold mine in Türkiye. Mount Milligan produces copper and gold concentrate, while Öksüt is an open-pit, heap-leach operation that produces gold doré.

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