Ruffer LLP Cuts Stock Position in Centerra Gold Inc. $CGAU

Key Points

• Ruffer LLP reduced its stake in Centerra Gold by 44.9% in Q4, selling 2,648,972 shares and now holding 3,255,131 shares (about 1.63% of the company) worth roughly $47.0 million, making CGAU its 13th-largest holding and ~2.1% of the fund's portfolio.
• Analyst sentiment is broadly positive: six Buys and three Holds produce a consensus rating of "Moderate Buy" with an average price target of $16.00, while Centerra recently beat EPS and revenue estimates and pays a $0.07 quarterly dividend (≈1.5% yield).

Ruffer LLP lowered its stake in Centerra Gold Inc. (NYSE:CGAU - Free Report) by 44.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,255,131 shares of the company's stock after selling 2,648,972 shares during the period. Centerra Gold accounts for about 2.1% of Ruffer LLP's holdings, making the stock its 13th largest holding. Ruffer LLP owned 1.63% of Centerra Gold worth $46,997,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Burkett Financial Services LLC purchased a new stake in shares of Centerra Gold in the 3rd quarter worth approximately $30,000. TD Waterhouse Canada Inc. grew its stake in shares of Centerra Gold by 1,106.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 2,980 shares of the company's stock worth $33,000 after buying an additional 2,733 shares during the last quarter. Osaic Holdings Inc. boosted its stake in Centerra Gold by 63.0% during the 2nd 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 during the last quarter. State of Wyoming purchased a new stake in Centerra Gold during the 3rd quarter valued at $90,000. Finally, Numerai GP LLC purchased a new stake in Centerra Gold during the 3rd quarter valued at $108,000. Hedge funds and other institutional investors own 55.40% of the company's stock.

Analyst Upgrades and Downgrades

CGAU has been the topic of several recent analyst reports. Wall Street Zen upgraded Centerra Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 28th. Weiss Ratings reiterated a "buy (b)" rating on shares of Centerra Gold in a research note on Friday, March 27th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Centerra Gold in a research note on Wednesday, February 4th. BMO Capital Markets upgraded Centerra Gold from a "hold" rating to an "outperform" rating in a research note on Tuesday, January 20th. Finally, Scotiabank increased their target price on Centerra Gold from $13.50 to $19.00 and gave the company an "outperform" rating in a research note on Monday, January 26th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $16.00.

Centerra Gold Stock Performance

Shares of CGAU opened at $18.30 on Wednesday. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 6.44, a P/E/G ratio of 1.25 and a beta of 0.90. Centerra Gold Inc. has a 12 month low of $6.30 and a 12 month high of $21.17. The company has a current ratio of 2.39, a quick ratio of 1.65 and a debt-to-equity ratio of 0.04. The business's fifty day simple moving average is $18.56 and its two-hundred day simple moving average is $15.59.

Centerra Gold (NYSE:CGAU - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. The firm had revenue of $401.60 million for the quarter, compared to the consensus estimate of $355.39 million. Centerra Gold had a return on equity of 12.42% and a net margin of 42.18%. Research analysts anticipate that Centerra Gold Inc. will post 1.71 earnings per share for the current fiscal year.

Centerra Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Thursday, March 12th. Centerra Gold's dividend payout ratio (DPR) is 7.39%.

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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