Centerra Gold Inc. $CGAU Position Decreased by Polar Asset Management Partners Inc.

Key Points

• Polar Asset Management cut its Centerra Gold stake by 40% in the first quarter, selling 80,000 shares and retaining 120,000 shares worth approximately $2.1 million. Institutional investors collectively own 55.4% of the company.
• Centerra Gold reported quarterly earnings of $0.44 per share, beating estimates of $0.41, while revenue of $484.7 million exceeded the $373.5 million consensus forecast.
• The company pays a quarterly dividend of $0.07, equal to an annualized $0.28 and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus rating with a target price of $17.50, compared with shares recently trading at $16.46.

Polar Asset Management Partners Inc. lowered its holdings in Centerra Gold Inc. (NYSE:CGAU - Free Report) by 40.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,000 shares of the company's stock after selling 80,000 shares during the period. Polar Asset Management Partners Inc. owned about 0.06% of Centerra Gold worth $2,125,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Donald Smith & CO. Inc. grew its position in Centerra Gold by 21.8% in the fourth quarter. Donald Smith & CO. Inc. now owns 14,158,116 shares of the company's stock worth $203,452,000 after buying an additional 2,535,492 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Centerra Gold by 57.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company's stock valued at $84,739,000 after acquiring an additional 4,853,494 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of 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 acquiring an additional 39,315 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Centerra Gold by 15.3% during the 4th quarter. Van ECK Associates Corp now owns 6,536,157 shares of the company's stock worth $93,929,000 after acquiring an additional 866,977 shares in the last quarter. Finally, Man Group plc boosted its stake in shares of Centerra Gold by 9.7% during the 2nd quarter. Man Group plc now owns 3,649,899 shares of the company's stock worth $26,241,000 after acquiring an additional 323,860 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors.

Centerra Gold Stock Performance

Shares of Centerra Gold stock opened at $16.46 on Tuesday. The stock has a market cap of $3.26 billion, a PE ratio of 5.31, a price-to-earnings-growth ratio of 0.61 and a beta of 0.81. The business has a fifty day simple moving average of $16.28 and a 200-day simple moving average of $17.48. The company has a quick ratio of 1.60, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. Centerra Gold Inc. has a 12 month low of $6.71 and a 12 month high of $21.17.

Centerra Gold (NYSE:CGAU - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. The firm had revenue of $484.70 million for the quarter, compared to analyst estimates of $373.47 million. Centerra Gold had a return on equity of 14.90% and a net margin of 40.32%. On average, sell-side analysts anticipate that Centerra Gold Inc. will post 1.61 EPS for the current fiscal year.

Centerra Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a $0.07 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.7%. Centerra Gold's dividend payout ratio is currently 6.77%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CGAU. Wall Street Zen lowered Centerra Gold from a "buy" rating to a "hold" rating in a research report on Saturday. Scotiabank reiterated an "outperform" rating on shares of Centerra Gold in a research report on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $17.50.

Centerra Gold Company Profile

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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