Ruffer LLP Has $51.59 Million Stake in Centerra Gold Inc. $CGAU

Key Points

• Ruffer LLP increased its stake in Centerra Gold Inc. to approximately $51.59 million, making it 11th in their investment portfolio with a 2.3% allocation.
• Centerra Gold recently reported earnings of $0.25 EPS for the quarter, exceeding estimates, and announced a quarterly dividend of $0.07 per share.
• Institutional investors collectively own about 55.40% of Centerra Gold, with significant increases from firms like Goldman Sachs and Royal Bank of Canada during the first quarter.

Ruffer LLP boosted its position in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,153,309 shares of the company's stock after acquiring an additional 64,070 shares during the quarter. Centerra Gold accounts for approximately 2.3% of Ruffer LLP's investment portfolio, making the stock its 11th biggest holding. Ruffer LLP owned approximately 3.47% of Centerra Gold worth $51,590,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in Centerra Gold by 57.2% during the first quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company's stock worth $84,739,000 after acquiring an additional 4,853,494 shares in the last quarter. Royal Bank of Canada raised its position in Centerra Gold by 9.2% during the first quarter. Royal Bank of Canada now owns 8,684,513 shares of the company's stock worth $55,146,000 after acquiring an additional 734,104 shares in the last quarter. Vanguard Group Inc. raised its position in Centerra Gold by 0.7% during the first quarter. Vanguard Group Inc. now owns 8,310,457 shares of the company's stock worth $52,722,000 after acquiring an additional 55,839 shares in the last quarter. American Century Companies Inc. raised its position in Centerra Gold by 9.9% during the first quarter. American Century Companies Inc. now owns 3,618,654 shares of the company's stock worth $22,958,000 after acquiring an additional 326,794 shares in the last quarter. Finally, Pale Fire Capital SE raised its position in shares of Centerra Gold by 52.6% in the first quarter. Pale Fire Capital SE now owns 3,467,298 shares of the company's stock valued at $22,017,000 after purchasing an additional 1,194,500 shares during the period. 55.40% of the stock is owned by institutional investors.

Centerra Gold Stock Down 0.2%

CGAU stock opened at $9.80 on Thursday. Centerra Gold Inc. has a 12 month low of $5.41 and a 12 month high of $9.98. The firm has a market cap of $1.98 billion, a P/E ratio of 29.71, a P/E/G ratio of 2.68 and a beta of 0.82. The company's 50-day moving average price is $7.95 and its two-hundred day moving average price is $7.16.

Centerra Gold (NYSE:CGAU - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.17 by $0.08. Centerra Gold had a net margin of 6.21% and a return on equity of 9.12%. The firm had revenue of $288.30 million for the quarter, compared to analyst estimates of $319.42 million. Equities analysts predict that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, August 21st. Centerra Gold's dividend payout ratio (DPR) is currently 60.61%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Scotiabank dropped their price objective on shares of Centerra Gold from $12.00 to $9.50 and set a "sector outperform" rating on the stock in a research report on Tuesday, September 16th. National Bankshares reissued an "outperform" rating on shares of Centerra Gold in a research report on Tuesday, June 24th. Wall Street Zen raised shares of Centerra Gold from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Royal Bank Of Canada lowered shares of Centerra Gold from an "outperform" rating to a "sector perform" rating and increased their price objective for the company from $13.00 to $14.00 in a research report on Wednesday, September 10th. Finally, CIBC reaffirmed an "outperform" rating on shares of Centerra Gold in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.83.

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.

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