Van ECK Associates Corp Buys 244,155 Shares of Centerra Gold Inc. (NYSE:CGAU)

Van ECK Associates Corp lifted its position in Centerra Gold Inc. (NYSE:CGAU - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,482,153 shares of the company's stock after acquiring an additional 244,155 shares during the quarter. Van ECK Associates Corp owned 9.50% of Centerra Gold worth $122,339,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc boosted its position in Centerra Gold by 1.8% during the 3rd quarter. CIBC Asset Management Inc now owns 207,198 shares of the company's stock valued at $1,016,000 after purchasing an additional 3,640 shares during the period. Versor Investments LP acquired a new position in Centerra Gold during the 3rd quarter valued at approximately $52,000. Heron Bay Capital Management acquired a new position in Centerra Gold during the 4th quarter valued at approximately $77,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Centerra Gold by 33.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,935 shares of the company's stock valued at $265,000 after purchasing an additional 13,553 shares during the period. Finally, Hsbc Holdings PLC boosted its position in Centerra Gold by 134.2% during the 3rd quarter. Hsbc Holdings PLC now owns 35,587 shares of the company's stock worth $174,000 after acquiring an additional 20,389 shares during the period. Institutional investors and hedge funds own 55.40% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CGAU. National Bank Financial reiterated an "outperform overweight" rating on shares of Centerra Gold in a research report on Monday, April 8th. BMO Capital Markets began coverage on Centerra Gold in a research report on Wednesday, February 21st. They set an "outperform" rating for the company. Finally, CIBC boosted their price target on Centerra Gold from $9.50 to $11.00 and gave the stock an "outperformer" rating in a research report on Monday, April 15th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $9.78.

Centerra Gold Price Performance

Shares of CGAU traded down $0.22 during midday trading on Tuesday, reaching $6.07. The stock had a trading volume of 332,449 shares, compared to its average volume of 411,367. Centerra Gold Inc. has a 52 week low of $4.47 and a 52 week high of $7.08. The firm's 50 day moving average price is $5.78 and its 200-day moving average price is $5.61. The company has a market capitalization of $1.30 billion, a P/E ratio of -16.40 and a beta of 0.98.

Centerra Gold (NYSE:CGAU - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.01). Centerra Gold had a positive return on equity of 0.62% and a negative net margin of 7.43%. The firm had revenue of $340.00 million during the quarter. On average, equities analysts forecast that Centerra Gold Inc. will post 0.55 earnings per share for the current year.

Centerra Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were given a dividend of $0.0518 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This is a positive change from Centerra Gold's previous quarterly dividend of $0.05. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.41%. Centerra Gold's payout ratio is -43.24%.

Centerra Gold Company 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.