Public Employees Retirement System of Ohio Boosts Stake in Centerra Gold Inc. $CGAU

Key Points

• Public Employees Retirement System of Ohio increased its stake in Centerra Gold by 14% in the first quarter, buying an additional 106,527 shares and bringing its holdings to 869,098 shares worth about $15.37 million.
• Centerra Gold recently beat quarterly earnings and revenue expectations, reporting $0.44 EPS versus $0.41 expected and $484.7 million in revenue versus $373.47 million anticipated.
• The company pays a quarterly dividend of $0.07 per share, and analysts currently rate the stock a Moderate Buy with an average price target of $17.50.

Public Employees Retirement System of Ohio lifted its position in Centerra Gold Inc. (NYSE:CGAU - Free Report) by 14.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 869,098 shares of the company's stock after acquiring an additional 106,527 shares during the period. Public Employees Retirement System of Ohio owned 0.44% of Centerra Gold worth $15,372,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CGAU. Osaic Holdings Inc. boosted its position in shares of Centerra Gold by 63.0% during the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company's stock valued at $34,000 after purchasing an additional 1,839 shares in the last quarter. Global Retirement Partners LLC bought a new position in Centerra Gold in the fourth quarter worth $36,000. Leonteq Securities AG bought a new position in Centerra Gold in the fourth quarter worth $72,000. Dynamic Technology Lab Private Ltd purchased a new position in Centerra Gold during the first quarter valued at $97,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in Centerra Gold during the fourth quarter valued at $100,000. Hedge funds and other institutional investors own 55.40% of the company's stock.

Centerra Gold Stock Performance

Shares of CGAU opened at $16.21 on Friday. The company has a quick ratio of 1.60, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. The business's 50 day moving average price is $16.29 and its 200-day moving average price is $17.46. Centerra Gold Inc. has a 52 week low of $6.71 and a 52 week high of $21.17. The stock has a market cap of $3.21 billion, a P/E ratio of 5.23, a P/E/G ratio of 0.61 and a beta of 0.81.

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

Centerra Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.07 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.28 annualized dividend and a dividend yield of 1.7%. Centerra Gold's dividend payout ratio (DPR) is presently 6.77%.

Analyst Ratings Changes

A number of brokerages have recently commented on CGAU. Wall Street Zen cut shares of Centerra Gold from a "buy" rating to a "hold" rating in a report on Saturday. 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 assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $17.50.

Centerra Gold 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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