Precision Wealth Strategies LLC Invests $1.99 Million in Centerra Gold Inc. $CGAU

Key Points

• Precision Wealth Strategies LLC opened a new position in Centerra Gold, buying 111,765 shares worth about $1.99 million in the first quarter.
• Centerra Gold reported better-than-expected quarterly results, posting $0.44 EPS versus the $0.41 estimate and revenue of $484.7 million, well above forecasts.
• The company also declared a quarterly dividend of $0.07 per share, equal to a 1.9% annualized yield, while analysts currently rate the stock a Moderate Buy with a $17.50 consensus price target.

Precision Wealth Strategies LLC acquired a new position in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 111,765 shares of the company's stock, valued at approximately $1,988,000. Precision Wealth Strategies LLC owned about 0.06% of Centerra Gold as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CGAU. Heartland Advisors Inc. lifted its holdings in shares of Centerra Gold by 0.7% in the first quarter. Heartland Advisors Inc. now owns 2,216,216 shares of the company's stock worth $39,426,000 after acquiring an additional 14,766 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Centerra Gold by 5.0% in the 1st quarter. Bank of New York Mellon Corp now owns 74,753 shares of the company's stock valued at $1,330,000 after purchasing an additional 3,544 shares in the last quarter. Kestra Advisory Services LLC grew its holdings in shares of Centerra Gold by 35.0% during the 1st quarter. Kestra Advisory Services LLC now owns 10,797 shares of the company's stock valued at $192,000 after purchasing an additional 2,797 shares during the last quarter. Cvfg LLC bought a new stake in shares of Centerra Gold during the 1st quarter valued at approximately $1,749,000. Finally, Kathmere Capital Management LLC increased its position in Centerra Gold by 22.0% during the 1st quarter. Kathmere Capital Management LLC now owns 18,797 shares of the company's stock worth $334,000 after purchasing an additional 3,392 shares in the last quarter. 55.40% of the stock is owned by institutional investors and hedge funds.

Centerra Gold Stock Down 1.0%

CGAU stock opened at $15.09 on Friday. The stock's 50 day simple moving average is $16.53 and its 200 day simple moving average is $17.40. The company has a market cap of $2.99 billion, a P/E ratio of 4.87, a price-to-earnings-growth ratio of 0.57 and a beta of 0.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.60 and a current ratio of 2.41. Centerra Gold Inc. has a fifty-two week low of $6.71 and a fifty-two week high of $21.17.

Centerra Gold (NYSE:CGAU - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.03. Centerra Gold had a return on equity of 14.90% and a net margin of 40.32%.The firm had revenue of $484.70 million during the quarter, compared to analysts' expectations of $373.47 million. On average, research analysts expect that Centerra Gold Inc. will post 1.61 earnings per share for the current fiscal year.

Centerra Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a $0.07 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.28 annualized dividend and a yield of 1.9%. Centerra Gold's dividend payout ratio (DPR) is presently 6.45%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CGAU shares. Wall Street Zen raised shares of Centerra Gold from a "hold" rating to a "buy" rating in a research note on Sunday, June 21st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Centerra Gold in a research note on Friday, March 27th. Zacks Research downgraded shares of Centerra Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 24th. Finally, Scotiabank reiterated an "outperform" rating on shares of Centerra Gold in a research note on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $17.50.

About Centerra Gold

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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