63,481 Shares in Centerra Gold Inc. $CGAU Bought by Persistent Asset Partners Ltd

Key Points

• Persistent Asset Partners purchased 63,481 shares of Centerra Gold during the second quarter, valued at approximately $1.005 million. Institutional investors and hedge funds collectively own 55.4% of the company.
• Centerra Gold reported quarterly earnings of $0.39 per share, exceeding estimates by $0.01, while revenue of $442.71 million surpassed expectations of $394.27 million.
• The company declared a quarterly dividend of $0.07 per share, equivalent to an annualized dividend of $0.28 and a 1.3% yield. Analysts maintain a “Moderate Buy” consensus, with five Buy ratings and three Holds.

Persistent Asset Partners Ltd bought a new position in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 63,481 shares of the company's stock, valued at approximately $1,005,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Osaic Holdings Inc. increased its holdings in shares of Centerra Gold by 63.0% in the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company's stock worth $34,000 after acquiring an additional 1,839 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Centerra Gold during the 4th quarter valued at about $36,000. Leonteq Securities AG acquired a new position in shares of Centerra Gold in the 4th quarter valued at approximately $72,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Centerra Gold in the 1st quarter valued at approximately $97,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of Centerra Gold in the 4th quarter valued at approximately $100,000. 55.40% of the stock is owned by institutional investors and hedge funds.

Centerra Gold Stock Up 0.1%

NYSE:CGAU opened at $21.54 on Monday. The stock has a 50-day simple moving average of $17.04 and a 200 day simple moving average of $17.76. Centerra Gold Inc. has a 52-week low of $6.99 and a 52-week high of $22.30. The company has a market cap of $4.22 billion, a PE ratio of 6.88, a PEG ratio of 0.80 and a beta of 0.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.49 and a current ratio of 2.42.

Centerra Gold (NYSE:CGAU - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate 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%. On average, sell-side analysts expect that Centerra Gold Inc. will post 1.63 EPS for the current fiscal year.

Centerra Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.28 annualized dividend and a yield of 1.3%. Centerra Gold's dividend payout ratio is currently 6.71%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Centerra Gold in a report on Thursday, July 30th. Weiss Ratings cut shares of Centerra Gold from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 28th. Wall Street Zen downgraded shares of Centerra Gold from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, Scotiabank restated an "outperform" rating on shares of Centerra Gold in a report on Tuesday, August 4th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $17.50.

About Centerra Gold

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.

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