Centerra Gold Inc. $CGAU Stake Cut by Amundi

Key Points

• Amundi cut its Centerra Gold stake by 55.5% in the second quarter, selling 912,933 shares and retaining 732,331 shares worth approximately $11.7 million. Institutional investors collectively own 55.4% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and two Hold ratings. Centerra Gold has a consensus rating of “Moderate Buy” and an average price target of $21.00.
• Centerra Gold exceeded quarterly expectations, reporting adjusted earnings of $0.39 per share versus the $0.38 estimate and revenue of $442.71 million versus $394.27 million expected. The company also declared a quarterly dividend of $0.07 per share.

Amundi reduced its stake in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) by 55.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 732,331 shares of the company's stock after selling 912,933 shares during the quarter. Amundi owned approximately 0.37% of Centerra Gold worth $11,662,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Osaic Holdings Inc. raised its holdings in shares of Centerra Gold by 63.0% in the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company's stock valued at $34,000 after buying an additional 1,839 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Centerra Gold in the 4th quarter valued at $36,000. Pinnacle Holdings LLC acquired a new stake in Centerra Gold during the 2nd quarter worth $45,000. Leonteq Securities AG acquired a new stake in Centerra Gold during the 4th quarter worth $72,000. Finally, C M Bidwell & Associates Ltd. bought a new position in Centerra Gold during the second quarter worth about $83,000. 55.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CGAU has been the topic of a number of recent research reports. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Centerra Gold in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Centerra Gold from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 31st. Scotiabank reissued an "outperform" rating on shares of Centerra Gold in a report on Tuesday, August 4th. Finally, Wall Street Zen lowered shares of Centerra Gold from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $21.00.

Centerra Gold Stock Up 0.1%

CGAU opened at $22.61 on Friday. The firm has a market capitalization of $4.42 billion, a P/E ratio of 7.23, a price-to-earnings-growth ratio of 0.84 and a beta of 0.86. Centerra Gold Inc. has a one year low of $8.95 and a one year high of $24.52. The company has a fifty day moving average price of $19.76 and a 200-day moving average price of $18.41. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.42 and a quick ratio of 1.49.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $442.71 million during the quarter, compared to analyst estimates of $394.27 million. Centerra Gold had a return on equity of 15.35% and a net margin of 36.92%. Equities research analysts expect that Centerra Gold Inc. will post 1.63 earnings per share for the current fiscal year.

Centerra Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 19th. Centerra Gold's payout ratio is currently 6.39%.

Centerra Gold Company Profile

Centerra Gold Inc is a Canadian-based mining company focused on the exploration, development, operation and reclamation of gold and copper properties. The company produces gold doré and copper concentrate for sale to commercial customers and also maintains mineral exploration and development activities in its operating regions.

Centerra's principal assets include the Mount Milligan copper-gold mine in British Columbia, Canada, and the Öksüt gold mine in central Türkiye. Mount Milligan is an open-pit mine and mill that produces copper concentrate containing gold, while Öksüt is an open-pit, heap-leach operation that produces gold doré.

Want to see what other hedge funds are holding CGAU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centerra Gold Inc. (NYSE:CGAU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.