Royal Bank of Canada Raises Stock Holdings in Centerra Gold Inc. (NYSE:CGAU)

Royal Bank of Canada increased its holdings in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) by 7.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,950,409 shares of the company's stock after acquiring an additional 530,601 shares during the period. Royal Bank of Canada owned about 3.79% of Centerra Gold worth $45,238,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Centerra Gold during the 4th quarter valued at $59,000. Massachusetts Financial Services Co. MA bought a new position in shares of Centerra Gold in the 4th quarter worth $60,000. Susquehanna Advisors Group Inc. bought a new position in shares of Centerra Gold in the 4th quarter worth $61,000. OMERS ADMINISTRATION Corp bought a new position in shares of Centerra Gold in the 4th quarter worth $79,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Centerra Gold in the 4th quarter worth $80,000. 55.40% of the stock is owned by institutional investors.

Centerra Gold Price Performance

Centerra Gold stock traded up $0.19 during trading hours on Friday, hitting $6.96. 1,001,271 shares of the stock traded hands, compared to its average volume of 889,286. The firm's 50 day moving average price is $6.51 and its 200-day moving average price is $6.19. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 19.32 and a beta of 0.80. 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 posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. The business had revenue of $299.50 million for the quarter, compared to the consensus estimate of $288.25 million. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. Research analysts forecast that Centerra Gold Inc. will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.03%. Centerra Gold's payout ratio is 100.00%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. National Bank Financial upgraded Centerra Gold to a "strong-buy" rating in a research note on Friday, March 21st. Desjardins lowered Centerra Gold from a "moderate buy" rating to a "hold" rating in a research report on Thursday, February 13th. CIBC reaffirmed a "neutral" rating on shares of Centerra Gold in a research report on Thursday, March 20th. Cormark lowered Centerra Gold from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Centerra Gold in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $12.00.

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.