BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Stake in Centerra Gold Inc. $CGAU

Key Points

• British Columbia Investment Management Corp significantly increased its stake in Centerra Gold Inc. by 202.2%, owning approximately 286,368 shares worth $1.8 million after purchasing an additional 191,605 shares in the first quarter.
• Centerra Gold recently reported earnings of $0.25 per share, surpassing analyst expectations of $0.17, despite revenue falling short at $288.3 million compared to expectations of $319.4 million.
• The company has declared a quarterly dividend of $0.07 per share, representing an annualized yield of 3.6%, with a payout ratio of 60.61%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) by 202.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 286,368 shares of the company's stock after buying an additional 191,605 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.14% of Centerra Gold worth $1,817,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Geode Capital Management LLC raised its holdings in shares of Centerra Gold by 15.6% during the 4th quarter. Geode Capital Management LLC now owns 525,967 shares of the company's stock worth $2,993,000 after acquiring an additional 71,028 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Centerra Gold during the 4th quarter worth $268,000. Barclays PLC grew its holdings in shares of Centerra Gold by 373.0% during the 4th quarter. Barclays PLC now owns 354,439 shares of the company's stock worth $2,018,000 after purchasing an additional 279,509 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Centerra Gold by 6.5% during the 4th quarter. Hsbc Holdings PLC now owns 52,769 shares of the company's stock worth $299,000 after purchasing an additional 3,201 shares during the period. Finally, Aquatic Capital Management LLC purchased a new position in shares of Centerra Gold during the 4th quarter worth $82,000. Hedge funds and other institutional investors own 55.40% of the company's stock.

Centerra Gold Trading Up 4.3%

NYSE:CGAU traded up $0.34 during trading hours on Monday, hitting $8.17. The company's stock had a trading volume of 1,588,363 shares, compared to its average volume of 1,601,483. The stock has a market capitalization of $1.66 billion, a P/E ratio of 24.74, a price-to-earnings-growth ratio of 0.62 and a beta of 0.81. The stock has a fifty day moving average of $7.32 and a 200-day moving average of $6.81. Centerra Gold Inc. has a 52-week low of $5.41 and a 52-week high of $8.21.

Centerra Gold (NYSE:CGAU - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.17 by $0.08. Centerra Gold had a return on equity of 9.12% and a net margin of 6.21%.The firm had revenue of $288.30 million for the quarter, compared to analyst estimates of $319.42 million. On average, sell-side analysts forecast that Centerra Gold Inc. will post 0.59 earnings per share for the current year.

Centerra Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.28 dividend on an annualized basis and a yield of 3.4%. Centerra Gold's payout ratio is 60.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded Centerra Gold from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. CIBC reiterated an "outperform" rating on shares of Centerra Gold in a report on Tuesday, July 15th. Cibc World Mkts upgraded Centerra Gold from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. BMO Capital Markets cut Centerra Gold from a "strong-buy" rating to a "hold" rating in a report on Friday, August 8th. Finally, National Bankshares reiterated an "outperform" rating on shares of Centerra Gold in a report on Tuesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $13.00.

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.