Heartland Advisors Inc. Trims Position in Centerra Gold Inc. (NYSE:CGAU)

Key Points

• Heartland Advisors Inc. reduced its stake in Centerra Gold Inc. by 1.7%, now holding approximately 2,218,550 shares valued at $14.08 million.
• Centerra Gold recently announced a quarterly dividend of $0.07 per share, representing an annual yield of 3.77%, despite a high dividend payout ratio.
• The stock has a consensus rating of "Buy" from analysts, with an average target price of $13.00, while its recent earnings met analyst expectations at $0.12 EPS.

Heartland Advisors Inc. cut its stake in Centerra Gold Inc. (NYSE:CGAU - Free Report) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,218,550 shares of the company's stock after selling 37,250 shares during the period. Heartland Advisors Inc. owned about 1.06% of Centerra Gold worth $14,088,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Donald Smith & CO. Inc. lifted its position in Centerra Gold by 30.1% during the 4th quarter. Donald Smith & CO. Inc. now owns 8,723,060 shares of the company's stock worth $49,634,000 after buying an additional 2,017,756 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Centerra Gold by 24.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,808,773 shares of the company's stock valued at $33,028,000 after buying an additional 1,126,825 shares during the period. Man Group plc raised its position in shares of Centerra Gold by 43.2% during the fourth quarter. Man Group plc now owns 3,038,739 shares of the company's stock worth $17,283,000 after acquiring an additional 916,255 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Centerra Gold by 34.1% during the fourth quarter. American Century Companies Inc. now owns 3,291,860 shares of the company's stock valued at $18,733,000 after acquiring an additional 836,777 shares during the period. Finally, Bastion Asset Management Inc. bought a new position in Centerra Gold in the fourth quarter valued at about $4,586,000. Institutional investors own 55.40% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on CGAU. Raymond James Financial reissued an "outperform" rating on shares of Centerra Gold in a research note on Friday, April 4th. Scotiabank reiterated an "outperform" rating on shares of Centerra Gold in a research note on Monday, April 14th. CIBC restated an "outperform" rating on shares of Centerra Gold in a research report on Tuesday, July 15th. National Bankshares reiterated an "outperform" rating on shares of Centerra Gold in a research note on Tuesday, June 24th. Finally, Cibc World Mkts upgraded shares of Centerra Gold from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $13.00.

Centerra Gold Price Performance

CGAU stock traded down $0.09 during midday trading on Tuesday, reaching $7.11. The company had a trading volume of 416,944 shares, compared to its average volume of 902,246. The firm has a 50-day moving average price of $7.21 and a 200-day moving average price of $6.62. The company has a market capitalization of $1.47 billion, a P/E ratio of 37.40, a P/E/G ratio of 0.34 and a beta of 0.81. Centerra Gold Inc. has a 1 year low of $5.41 and a 1 year high of $7.82.

Centerra Gold (NYSE:CGAU - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.12. Centerra Gold had a return on equity of 8.71% and a net margin of 3.68%. The firm had revenue of $299.50 million for the quarter, compared to analysts' expectations of $288.25 million. On average, equities analysts predict that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were issued a $0.07 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $0.28 dividend on an annualized basis and a yield of 3.94%. Centerra Gold's dividend payout ratio (DPR) is 105.26%.

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.