UBS Group AG Sells 541,683 Shares of Centerra Gold Inc. $CGAU

Key Points

• UBS Group AG cut its Centerra Gold stake by 21.5% in the fourth quarter, selling 541,683 shares and leaving it with 1,972,289 shares worth about $28.3 million.
• Centerra Gold reported stronger-than-expected quarterly results, posting EPS of $0.44 versus the $0.41 estimate and revenue of $484.7 million, well above analysts’ expectations.
• The company announced a quarterly dividend of $0.07 per share, payable June 4 to shareholders of record on May 21, for an annualized yield of 1.5%.

UBS Group AG lowered its stake in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) by 21.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,972,289 shares of the company's stock after selling 541,683 shares during the quarter. UBS Group AG owned about 0.99% of Centerra Gold worth $28,342,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Burkett Financial Services LLC boosted its position in Centerra Gold by 27.5% during the fourth quarter. Burkett Financial Services LLC now owns 3,569 shares of the company's stock worth $51,000 after purchasing an additional 769 shares during the period. CWM LLC boosted its position in Centerra Gold by 5.3% during the fourth quarter. CWM LLC now owns 16,300 shares of the company's stock worth $234,000 after purchasing an additional 820 shares during the period. Osaic Holdings Inc. boosted its position in Centerra Gold by 63.0% during the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company's stock worth $34,000 after purchasing an additional 1,839 shares during the period. Baron Wealth Management LLC boosted its position in Centerra Gold by 10.8% during the fourth quarter. Baron Wealth Management LLC now owns 25,981 shares of the company's stock worth $373,000 after purchasing an additional 2,542 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its position in Centerra Gold by 1,106.5% during the third quarter. TD Waterhouse Canada Inc. now owns 2,980 shares of the company's stock worth $33,000 after purchasing an additional 2,733 shares during the period. Institutional investors own 55.40% of the company's stock.

Centerra Gold Stock Up 3.3%

CGAU opened at $18.37 on Friday. Centerra Gold Inc. has a 1-year low of $6.35 and a 1-year high of $21.17. The company has a current ratio of 2.41, a quick ratio of 1.60 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 5.93, a P/E/G ratio of 0.87 and a beta of 0.80. The business has a 50 day moving average of $18.41 and a 200-day moving average of $16.03.

Centerra Gold (NYSE:CGAU - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. Centerra Gold had a return on equity of 14.90% and a net margin of 40.32%.The company had revenue of $484.70 million during the quarter, compared to analysts' expectations of $373.47 million. As a group, sell-side analysts anticipate that Centerra Gold Inc. will post 1.79 earnings per share for the current year.

Centerra Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be 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 is Thursday, May 21st. Centerra Gold's dividend payout ratio is presently 6.77%.

Analyst Ratings Changes

CGAU has been the subject of a number of recent analyst reports. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Centerra Gold in a research report on Wednesday, February 4th. Scotiabank increased their price objective on Centerra Gold from $19.00 to $21.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of Centerra Gold in a research report on Friday, March 27th. Zacks Research cut Centerra Gold from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 24th. Finally, BMO Capital Markets raised Centerra Gold from a "hold" rating to an "outperform" rating in a research report on Tuesday, January 20th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $16.67.

Centerra Gold Profile

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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