Centerra Gold Inc. $CGAU Position Lessened by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Centerra Gold by 21.9%, selling 196,266 shares, and now holds 699,988 shares valued at approximately $4.4 million.
• Centerra Gold reported a quarterly EPS of $0.25, beating the consensus estimate of $0.17, despite revenue of $288.3 million falling short of expectations of $319.42 million.
• The company announced a quarterly dividend of $0.07 per share, representing an annualized payout of $0.28 and a yield of 3.6%.

Russell Investments Group Ltd. lowered its stake in Centerra Gold Inc. (NYSE:CGAU - Free Report) by 21.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 699,988 shares of the company's stock after selling 196,266 shares during the quarter. Russell Investments Group Ltd. owned about 0.33% of Centerra Gold worth $4,440,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Nuveen LLC acquired a new stake in shares of Centerra Gold in the first quarter valued at about $14,634,000. Aigen Investment Management LP acquired a new stake in shares of Centerra Gold in the first quarter valued at about $149,000. Invesco Ltd. grew its stake in shares of Centerra Gold by 37.5% in the first quarter. Invesco Ltd. now owns 2,180,721 shares of the company's stock valued at $13,848,000 after buying an additional 594,674 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Centerra Gold by 1,792.9% in the first quarter. Deutsche Bank AG now owns 439,501 shares of the company's stock valued at $2,791,000 after buying an additional 416,283 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Centerra Gold by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 8,310,457 shares of the company's stock valued at $52,722,000 after purchasing an additional 55,839 shares in the last quarter. Institutional investors and hedge funds own 55.40% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on CGAU. Cibc World Mkts upgraded Centerra Gold from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. Wall Street Zen upgraded Centerra Gold from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. BMO Capital Markets downgraded Centerra Gold from a "strong-buy" rating to a "hold" rating in a report on Friday, August 8th. National Bankshares reissued an "outperform" rating on shares of Centerra Gold in a research report on Tuesday, June 24th. Finally, CIBC restated an "outperform" rating on shares of Centerra Gold in a research note on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $13.00.

Centerra Gold Stock Up 0.3%

Shares of CGAU traded up $0.03 during mid-day trading on Thursday, hitting $7.83. The stock had a trading volume of 2,153,304 shares, compared to its average volume of 1,486,283. The company has a market cap of $1.59 billion, a PE ratio of 23.71, a PEG ratio of 0.59 and a beta of 0.80. The company's fifty day simple moving average is $7.28 and its two-hundred day simple moving average is $6.79. Centerra Gold Inc. has a fifty-two week low of $5.41 and a fifty-two week high of $7.90.

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

Centerra Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.28 annualized dividend and a dividend yield of 3.6%. Centerra Gold's dividend payout ratio (DPR) is 60.61%.

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.