Ruffer LLP Sells 51,606 Shares of Centerra Gold Inc. (NYSE:CGAU)

Key Points

• Ruffer LLP reduced its stake in Centerra Gold by 0.7%, now holding 7,089,239 shares, which makes up about 1.7% of its total portfolio.
• Centerra Gold's recent quarterly earnings hit analysts' expectations with $0.12 earnings per share and revenues of $299.5 million, exceeding forecasts.
• The company declared a quarterly dividend of $0.07 per share, resulting in a dividend yield of 4.0%, although its payout ratio stands at 105.26%.

Ruffer LLP cut its holdings in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,089,239 shares of the company's stock after selling 51,606 shares during the quarter. Centerra Gold comprises 1.7% of Ruffer LLP's portfolio, making the stock its 15th biggest holding. Ruffer LLP owned 3.38% of Centerra Gold worth $44,991,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CGAU. Raymond James Financial Inc. acquired a new position in Centerra Gold in the 4th quarter valued at $268,000. Vanguard Group Inc. grew its holdings in Centerra Gold by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 8,254,618 shares of the company's stock valued at $46,977,000 after buying an additional 76,544 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Centerra Gold by 261.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 220,906 shares of the company's stock valued at $1,257,000 after buying an additional 159,865 shares in the last quarter. Geode Capital Management LLC grew its holdings in Centerra Gold by 15.6% in the 4th quarter. Geode Capital Management LLC now owns 525,967 shares of the company's stock valued at $2,993,000 after buying an additional 71,028 shares in the last quarter. Finally, Trexquant Investment LP grew its holdings in Centerra Gold by 46.7% in the 4th quarter. Trexquant Investment LP now owns 343,432 shares of the company's stock valued at $1,954,000 after buying an additional 109,320 shares in the last quarter. 55.40% of the stock is owned by institutional investors and hedge funds.

Centerra Gold Stock Up 1.2%

Shares of CGAU traded up $0.09 during trading hours on Thursday, hitting $7.55. 1,753,333 shares of the company were exchanged, compared to its average volume of 909,297. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 39.74, a P/E/G ratio of 0.48 and a beta of 0.80. Centerra Gold Inc. has a fifty-two week low of $5.41 and a fifty-two week high of $7.82. The firm's fifty day moving average is $7.24 and its 200 day moving average is $6.67.

Centerra Gold (NYSE:CGAU - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.08. The company had revenue of $288.30 million for the quarter, compared to analyst estimates of $319.42 million. Centerra Gold had a return on equity of 8.71% and a net margin of 3.68%. Analysts anticipate that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.7%. Centerra Gold's dividend payout ratio is currently 60.61%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. National Bankshares reaffirmed an "outperform" rating on shares of Centerra Gold in a report on Tuesday, June 24th. Scotiabank reaffirmed an "outperform" rating on shares of Centerra Gold in a report on Monday, April 14th. CIBC reissued an "outperform" rating on shares of Centerra Gold in a report on Tuesday, July 15th. Finally, Cibc World Mkts raised Centerra Gold from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. Two analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $13.00.

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.