Bessemer Group Inc. Raises Stock Position in Centerra Gold Inc. $CGAU

Bessemer Group Inc. lifted its stake in shares of Centerra Gold Inc. (NYSE:CGAU) by 15.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 220,307 shares of the company’s stock after acquiring an additional 30,000 shares during the period. Bessemer Group Inc.’s holdings in Centerra Gold were worth $1,584,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CGAU. Farther Finance Advisors LLC purchased a new stake in Centerra Gold during the 2nd quarter worth $27,000. Pinnacle Holdings LLC purchased a new position in Centerra Gold in the 1st quarter valued at about $39,000. Carrera Capital Advisors acquired a new stake in shares of Centerra Gold during the second quarter valued at about $81,000. CWM LLC increased its position in shares of Centerra Gold by 15.6% during the second quarter. CWM LLC now owns 14,480 shares of the company’s stock worth $104,000 after acquiring an additional 1,955 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Centerra Gold during the first quarter worth about $97,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Analyst Upgrades and Downgrades

CGAU has been the topic of several recent analyst reports. Wall Street Zen raised shares of Centerra Gold from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Centerra Gold in a research report on Wednesday, October 8th. Royal Bank Of Canada lowered shares of Centerra Gold from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $13.00 to $14.00 in a research note on Wednesday, September 10th. CIBC reaffirmed an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, July 15th. Finally, Scotiabank reissued an “outperform” rating on shares of Centerra Gold in a report on Thursday, October 23rd. Two equities research 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.17.

Centerra Gold Trading Up 5.2%

Shares of NYSE:CGAU opened at $11.82 on Friday. The company has a 50 day moving average of $10.08 and a 200-day moving average of $8.12. The company has a current ratio of 2.89, a quick ratio of 2.59 and a debt-to-equity ratio of 0.02. The firm has a market cap of $2.38 billion, a P/E ratio of 7.21, a P/E/G ratio of 0.62 and a beta of 0.88. Centerra Gold Inc. has a twelve month low of $5.41 and a twelve month high of $12.80.

Centerra Gold (NYSE:CGAU) last released its earnings results on Tuesday, October 28th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. Centerra Gold had a return on equity of 10.47% and a net margin of 26.35%.The firm had revenue of $395.20 million for the quarter, compared to analyst estimates of $314.74 million. As a group, analysts anticipate that Centerra Gold Inc. will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, November 13th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.28 dividend on an annualized basis and a yield of 2.4%. Centerra Gold’s dividend payout ratio (DPR) is currently 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.