Centerra Gold Inc. $CGAU Shares Sold by CM Management LLC

Key Points

• CM Management LLC trimmed its stake in Centerra Gold by 27.3%, selling 75,000 shares and leaving it with 200,000 shares (about 0.10% of Centerra, its 18th largest position).
• Centerra reported a strong quarter with $0.41 EPS vs. $0.34 expected and revenue of $401.6M (vs. $355.4M consensus), and posted a 42.2% net margin, supporting recent analyst upgrades and positive sentiment.
• The company announced a quarterly dividend of $0.07 (annualized $0.28, ~1.5% yield), its stock trades near $18.78 with a market cap of $3.75B and an average analyst price target of $16 (consensus rating: Moderate Buy).

CM Management LLC lowered its position in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) by 27.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,000 shares of the company's stock after selling 75,000 shares during the quarter. Centerra Gold accounts for approximately 1.8% of CM Management LLC's investment portfolio, making the stock its 18th largest position. CM Management LLC owned approximately 0.10% of Centerra Gold worth $2,146,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. lifted its holdings in Centerra Gold by 1,106.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 2,980 shares of the company's stock valued at $33,000 after acquiring an additional 2,733 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of Centerra Gold by 63.0% in the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company's stock worth $34,000 after purchasing an additional 1,839 shares during the last quarter. Olympiad Research LP bought a new stake in shares of Centerra Gold in the 2nd quarter worth approximately $89,000. State of Wyoming bought a new stake in shares of Centerra Gold in the 3rd quarter worth approximately $90,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Centerra Gold during the second quarter valued at approximately $97,000. 55.40% of the stock is owned by institutional investors and hedge funds.

Centerra Gold Stock Up 1.9%

CGAU stock opened at $18.78 on Friday. Centerra Gold Inc. has a 52-week low of $5.41 and a 52-week high of $21.17. The company's 50 day simple moving average is $17.60 and its 200-day simple moving average is $13.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.65. The firm has a market capitalization of $3.75 billion, a P/E ratio of 6.61, a P/E/G ratio of 0.94 and a beta of 0.83.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. Centerra Gold had a net margin of 42.18% and a return on equity of 12.42%. The business had revenue of $401.60 million during the quarter, compared to the consensus estimate of $355.39 million. As a group, equities research analysts anticipate that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be issued a $0.07 dividend. The ex-dividend date is Thursday, March 12th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. Centerra Gold's dividend payout ratio is presently 7.04%.

Wall Street Analysts Forecast Growth

CGAU has been the subject of a number of research reports. Scotiabank raised their target price on shares of Centerra Gold from $13.50 to $19.00 and gave the stock an "outperform" rating in a report on Monday, January 26th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Centerra Gold in a research report on Wednesday, February 4th. Weiss Ratings reissued a "buy (b)" rating on shares of Centerra Gold in a research note on Monday, December 29th. Zacks Research upgraded Centerra Gold from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 4th. Finally, Wall Street Zen lowered Centerra Gold from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $16.00.

Centerra Gold 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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