Pale Fire Capital SE Acquires 1,194,500 Shares of Centerra Gold Inc. $CGAU

Key Points

• Pale Fire Capital SE increased its stake in Centerra Gold Inc. by 52.6%, acquiring an additional 1,194,500 shares in the first quarter, making it the 8th largest holding in their portfolio.
• Centerra Gold reported $0.25 EPS for the last quarter, surpassing the consensus estimate of $0.17, despite revenue of $288.30 million falling short of analysts' expectations.
• The company announced a quarterly dividend of $0.07 per share, with a yield of 3.6%, to be paid on September 4th to investors on record as of August 21st.

Pale Fire Capital SE grew its stake in Centerra Gold Inc. (NYSE:CGAU - Free Report) by 52.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,467,298 shares of the company's stock after acquiring an additional 1,194,500 shares during the quarter. Centerra Gold comprises about 2.6% of Pale Fire Capital SE's portfolio, making the stock its 8th biggest position. Pale Fire Capital SE owned approximately 1.65% of Centerra Gold worth $22,017,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CGAU. Millennium Management LLC boosted its position in shares of Centerra Gold by 0.3% in the 4th quarter. Millennium Management LLC now owns 585,238 shares of the company's stock worth $3,330,000 after purchasing an additional 1,663 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Centerra Gold by 4.7% in the first quarter. Hsbc Holdings PLC now owns 55,268 shares of the company's stock worth $351,000 after acquiring an additional 2,499 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Centerra Gold by 8.8% during the fourth quarter. Toronto Dominion Bank now owns 36,901 shares of the company's stock worth $210,000 after acquiring an additional 2,980 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Centerra Gold by 2.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 181,755 shares of the company's stock valued at $1,036,000 after acquiring an additional 3,608 shares in the last quarter. Finally, Capstone Investment Advisors LLC increased its holdings in shares of Centerra Gold by 34.2% during the fourth quarter. Capstone Investment Advisors LLC now owns 16,712 shares of the company's stock valued at $95,000 after acquiring an additional 4,263 shares in the last quarter. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Centerra Gold Stock Up 0.3%

Shares of Centerra Gold stock traded up $0.03 on Thursday, reaching $7.83. The company's stock had a trading volume of 1,310,603 shares, compared to its average volume of 977,766. The company has a market capitalization of $1.59 billion, a P/E ratio of 23.71, a PEG ratio of 0.59 and a beta of 0.80. The stock has a 50-day moving average price of $7.27 and a 200-day moving average price of $6.78. Centerra Gold Inc. has a 52-week low of $5.41 and a 52-week high of $7.90.

Centerra Gold (NYSE:CGAU - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.08. Centerra Gold had a net margin of 6.21% and a return on equity of 9.12%. The firm had revenue of $288.30 million for the quarter, compared to analysts' expectations of $319.42 million. Sell-side analysts forecast that Centerra Gold Inc. will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Thursday, August 21st. Centerra Gold's dividend payout ratio is currently 60.61%.

Analysts Set New Price Targets

Several research firms have weighed in on CGAU. Wall Street Zen raised shares of Centerra Gold from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Cibc World Mkts raised Centerra Gold from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 27th. CIBC reaffirmed an "outperform" rating on shares of Centerra Gold in a research report on Tuesday, July 15th. BMO Capital Markets lowered Centerra Gold from a "strong-buy" rating to a "hold" rating in a report on Friday, August 8th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Centerra Gold in a report on Tuesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Centerra Gold has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.

Centerra Gold 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.