Bank of America Corp DE Sells 1,354,925 Shares of Centerra Gold Inc. (NYSE:CGAU)

Bank of America Corp DE lowered its stake in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) by 55.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,085,674 shares of the company's stock after selling 1,354,925 shares during the quarter. Bank of America Corp DE owned approximately 0.52% of Centerra Gold worth $6,177,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CGAU. Donald Smith & CO. Inc. raised its stake in shares of Centerra Gold by 30.1% in the 4th quarter. Donald Smith & CO. Inc. now owns 8,723,060 shares of the company's stock worth $49,634,000 after buying an additional 2,017,756 shares in the last quarter. Amundi raised its position in shares of Centerra Gold by 168.6% during the fourth quarter. Amundi now owns 2,628,623 shares of the company's stock worth $15,377,000 after purchasing an additional 1,650,160 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Centerra Gold by 24.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,808,773 shares of the company's stock worth $33,028,000 after purchasing an additional 1,126,825 shares during the period. American Century Companies Inc. raised its position in Centerra Gold by 34.1% during the fourth quarter. American Century Companies Inc. now owns 3,291,860 shares of the company's stock valued at $18,733,000 after buying an additional 836,777 shares during the period. Finally, U S Global Investors Inc. acquired a new position in Centerra Gold during the fourth quarter valued at $3,667,000. Institutional investors and hedge funds own 55.40% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Cormark downgraded Centerra Gold from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Cibc World Mkts upgraded Centerra Gold from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Desjardins downgraded Centerra Gold from a "moderate buy" rating to a "hold" rating in a research note on Thursday, February 13th. CIBC reiterated a "neutral" rating on shares of Centerra Gold in a research note on Thursday, March 20th. Finally, Scotiabank reiterated an "outperform" rating on shares of Centerra Gold in a research note on Monday, April 14th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Centerra Gold currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.

Centerra Gold Stock Down 0.6%

Shares of CGAU stock traded down $0.05 during mid-day trading on Friday, reaching $7.10. The stock had a trading volume of 335,336 shares, compared to its average volume of 880,945. The firm's 50 day simple moving average is $6.59 and its 200 day simple moving average is $6.21. Centerra Gold Inc. has a one year low of $5.41 and a one year high of $7.82. The firm has a market cap of $1.49 billion, a PE ratio of 19.74 and a beta of 0.80.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.12. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. The business had revenue of $299.50 million during the quarter, compared to analysts' expectations of $288.25 million. Sell-side analysts forecast that Centerra Gold Inc. will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be paid a $0.07 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $0.28 annualized dividend and a dividend yield of 3.95%. Centerra Gold's dividend payout ratio (DPR) is currently 100.00%.

About Centerra Gold

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.