Heartland Advisors Inc. Makes New Investment in Centerra Gold Inc. $CGAU

Key Points

• Heartland Advisors purchased 2.15 million Centerra Gold shares worth approximately $34.1 million, making CGAU about 1.5% of its portfolio and giving it a 1.10% ownership stake. Institutional investors and hedge funds collectively own 55.4% of the company.
• Analyst sentiment remains positive overall, with five Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $17.50, despite some recent rating downgrades.
• Centerra Gold reported quarterly EPS of $0.39, beating estimates, while revenue of $442.7 million exceeded expectations. The company also declared a quarterly dividend of $0.07 per share, representing a 1.2% annualized yield.

Heartland Advisors Inc. purchased a new stake in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 2,148,931 shares of the company's stock, valued at approximately $34,082,000. Centerra Gold makes up approximately 1.5% of Heartland Advisors Inc.'s investment portfolio, making the stock its 3rd biggest position. Heartland Advisors Inc. owned about 1.10% of Centerra Gold as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in shares of Centerra Gold in the fourth quarter valued at $36,000. Osaic Holdings Inc. lifted its holdings in Centerra Gold by 63.0% in the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company's stock valued at $34,000 after acquiring an additional 1,839 shares during the last quarter. Leonteq Securities AG acquired a new stake in Centerra Gold in the 4th quarter valued at about $72,000. C M Bidwell & Associates Ltd. bought a new position in shares of Centerra Gold during the 2nd quarter valued at about $83,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Centerra Gold during the 4th quarter valued at about $115,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wall Street Zen cut shares of Centerra Gold from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Weiss Ratings cut shares of Centerra Gold from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 28th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Centerra Gold in a report on Thursday, July 30th. Finally, Scotiabank restated an "outperform" rating on shares of Centerra Gold in a research report on Tuesday, August 4th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $17.50.

Centerra Gold Trading Up 1.1%

NYSE:CGAU opened at $23.74 on Friday. The company has a quick ratio of 1.49, a current ratio of 2.42 and a debt-to-equity ratio of 0.03. Centerra Gold Inc. has a 12 month low of $7.31 and a 12 month high of $24.16. The company's 50 day moving average is $17.75 and its 200-day moving average is $17.90. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 7.58, a P/E/G ratio of 0.88 and a beta of 0.80.

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, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $442.71 million for the quarter, compared to the consensus estimate of $394.27 million. Centerra Gold had a return on equity of 15.35% and a net margin of 36.92%. Equities analysts anticipate that Centerra Gold Inc. will post 1.63 EPS for the current year.

Centerra Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. Centerra Gold's dividend payout ratio (DPR) is 6.39%.

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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