U S Global Investors Inc. Cuts Stock Position in Centerra Gold Inc. $CGAU

Key Points

• U S Global Investors Inc. reduced its stake in Centerra Gold Inc. by 31.0% during the 2nd quarter, now owning 527,284 shares valued at approximately $3.8 million.
• Centerra Gold recently declared a quarterly dividend of $0.07 per share, resulting in an annualized dividend yield of 2.5%.
• The company's earnings report showed an EPS of $0.25, exceeding analysts' expectations, though revenue fell short of estimates at $288.3 million.

U S Global Investors Inc. lowered its stake in Centerra Gold Inc. (NYSE:CGAU - Free Report) by 31.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 527,284 shares of the company's stock after selling 237,002 shares during the period. U S Global Investors Inc. owned 0.26% of Centerra Gold worth $3,802,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC bought a new position in shares of Centerra Gold during the 2nd quarter valued at $27,000. Pinnacle Holdings LLC purchased a new position in shares of Centerra Gold during the first quarter valued at about $39,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Centerra Gold during the first quarter valued at about $97,000. Kathmere Capital Management LLC bought a new position in shares of Centerra Gold in the 2nd quarter valued at about $111,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Centerra Gold by 74.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 18,488 shares of the company's stock valued at $117,000 after acquiring an additional 7,895 shares during the last quarter. 55.40% of the stock is owned by institutional investors.

Centerra Gold Stock Performance

Shares of Centerra Gold stock opened at $11.34 on Friday. The firm has a 50-day simple moving average of $8.87 and a two-hundred day simple moving average of $7.58. The company has a market cap of $2.29 billion, a P/E ratio of 34.35, a price-to-earnings-growth ratio of 1.52 and a beta of 0.88. Centerra Gold Inc. has a fifty-two week low of $5.41 and a fifty-two week high of $11.83.

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

Centerra Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Thursday, August 21st. Centerra Gold's dividend payout ratio is 60.61%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CGAU. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Centerra Gold in a report on Wednesday. BMO Capital Markets reaffirmed a "market perform" rating on shares of Centerra Gold in a research note on Monday, September 15th. Wall Street Zen lowered shares of Centerra Gold from a "buy" rating to a "hold" rating in a report on Friday, September 26th. National Bankshares reaffirmed an "outperform" rating on shares of Centerra Gold in a report on Tuesday, June 24th. Finally, CIBC reaffirmed an "outperform" rating on shares of Centerra Gold in a report on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Centerra Gold has a consensus rating of "Moderate Buy" and an average target price of $12.83.

Centerra Gold 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.

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