Royal Bank of Canada Purchases 530,601 Shares of Centerra Gold Inc. (NYSE:CGAU)

Royal Bank of Canada grew its holdings in Centerra Gold Inc. (NYSE:CGAU - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 7,950,409 shares of the company's stock after buying an additional 530,601 shares during the quarter. Royal Bank of Canada owned approximately 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 bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Centerra Gold in the 4th quarter worth approximately $59,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Centerra Gold in the 4th quarter valued at approximately $60,000. Susquehanna Advisors Group Inc. purchased a new position in shares of Centerra Gold in the 4th quarter valued at approximately $61,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Centerra Gold in the 4th quarter valued at approximately $79,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Centerra Gold in the 4th quarter valued at approximately $80,000. Hedge funds and other institutional investors own 55.40% of the company's stock.

Analysts Set New Price Targets

CGAU has been the subject of a number of research analyst reports. Scotiabank restated an "outperform" rating on shares of Centerra Gold in a research note on Monday, April 14th. National Bankshares restated an "outperform" rating on shares of Centerra Gold in a research note on Wednesday, April 23rd. CIBC reaffirmed a "neutral" rating on shares of Centerra Gold in a research report on Thursday, March 20th. National Bank Financial raised Centerra Gold to a "strong-buy" rating in a research report on Friday, March 21st. Finally, Raymond James reaffirmed an "outperform" rating on shares of Centerra Gold in a research report on Friday, April 4th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.

Centerra Gold Price Performance

CGAU stock traded up $0.13 on Tuesday, reaching $7.08. 201,740 shares of the company traded hands, compared to its average volume of 886,711. Centerra Gold Inc. has a one year low of $5.41 and a one year high of $7.82. The company has a market cap of $1.49 billion, a P/E ratio of 19.76 and a beta of 0.80. The firm has a fifty day simple moving average of $6.53 and a 200-day simple moving average of $6.19.

Centerra Gold (NYSE:CGAU - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.12 EPS for the quarter, hitting analysts' consensus estimates of $0.12. The business had revenue of $299.50 million during the quarter, compared to analyst estimates of $288.25 million. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. On average, sell-side analysts forecast that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Thursday, May 22nd. Centerra Gold's payout ratio is 100.00%.

About Centerra Gold

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.