Centerra Gold Inc. $CGAU Position Boosted by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in Centerra Gold Inc. by 20.2% during the 2nd quarter, now owning approximately 0.37% of the company with shares valued at $5.5 million.
• Centerra Gold recently announced a quarterly dividend of $0.07 per share, giving an annualized yield of 2.7% and a payout ratio of 60.61%.
• Shares of Centerra Gold have seen a 3.2% increase, opening at $10.23, with a market capitalization of $2.07 billion and a consensus target price of $12.83.

Public Employees Retirement System of Ohio raised its holdings in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) by 20.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 768,026 shares of the company's stock after acquiring an additional 128,825 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.37% of Centerra Gold worth $5,533,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Hsbc Holdings PLC grew its stake in Centerra Gold by 4.7% during the 1st quarter. Hsbc Holdings PLC now owns 55,268 shares of the company's stock valued at $351,000 after acquiring an additional 2,499 shares in the last quarter. Farther Finance Advisors LLC purchased a new position in Centerra Gold during the 2nd quarter valued at about $27,000. Northwest & Ethical Investments L.P. grew its stake in Centerra Gold by 29.1% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 19,488 shares of the company's stock valued at $124,000 after acquiring an additional 4,398 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Centerra Gold by 43.0% during the 1st quarter. Bank of New York Mellon Corp now owns 20,183 shares of the company's stock valued at $128,000 after acquiring an additional 6,071 shares in the last quarter. Finally, Pinnacle Holdings LLC purchased a new position in Centerra Gold during the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 55.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CGAU. National Bankshares reaffirmed an "outperform" rating on shares of Centerra Gold in a research note on Tuesday, June 24th. Scotiabank lowered their price target on Centerra Gold from $12.00 to $9.50 and set a "sector outperform" rating for the company in a research note on Tuesday, September 16th. CIBC reissued an "outperform" rating on shares of Centerra Gold in a research note on Tuesday, July 15th. Royal Bank Of Canada cut Centerra Gold from an "outperform" rating to a "sector perform" rating and boosted their price target for the company from $13.00 to $14.00 in a research note on Wednesday, September 10th. Finally, BMO Capital Markets reissued a "market perform" rating on shares of Centerra Gold in a research note on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Centerra Gold presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.83.

Centerra Gold Stock Up 3.2%

Shares of Centerra Gold stock opened at $10.23 on Monday. The stock has a market capitalization of $2.07 billion, a P/E ratio of 31.01, a PEG ratio of 3.13 and a beta of 0.81. The stock has a 50 day moving average price of $8.07 and a two-hundred day moving average price of $7.24. Centerra Gold Inc. has a 12-month low of $5.41 and a 12-month high of $10.34.

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

Centerra Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.28 dividend on an annualized basis and a yield of 2.7%. Centerra Gold's dividend payout ratio is presently 60.61%.

Centerra Gold Company 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.

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