Cvfg LLC Invests $1.75 Million in Centerra Gold Inc. $CGAU

Cvfg LLC acquired a new position in Centerra Gold Inc. (NYSE:CGAU) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 98,310 shares of the company’s stock, valued at approximately $1,749,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Centerra Gold in the first quarter valued at approximately $192,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Centerra Gold during the first quarter worth approximately $97,000. Goldman Sachs Group Inc. boosted its position in shares of Centerra Gold by 57.2% during the first quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock worth $84,739,000 after buying an additional 4,853,494 shares during the period. Empowered Funds LLC bought a new position in Centerra Gold in the 1st quarter worth approximately $218,000. Finally, Geode Capital Management LLC increased its position in Centerra Gold by 20.3% in the 2nd quarter. Geode Capital Management LLC now owns 767,536 shares of the company’s stock valued at $5,534,000 after acquiring an additional 129,737 shares during the period. 55.40% of the stock is owned by institutional investors and hedge funds.

Centerra Gold Stock Performance

Shares of NYSE CGAU opened at $16.18 on Wednesday. The stock has a fifty day moving average price of $16.85 and a two-hundred day moving average price of $17.36. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.60 and a current ratio of 2.41. The firm has a market cap of $3.20 billion, a P/E ratio of 5.22, a PEG ratio of 0.79 and a beta of 0.81. Centerra Gold Inc. has a 1 year low of $6.71 and a 1 year high of $21.17.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.41 by $0.03. Centerra Gold had a net margin of 40.32% and a return on equity of 14.90%. The firm had revenue of $484.70 million for the quarter, compared to analysts’ expectations of $373.47 million. Research analysts forecast that Centerra Gold Inc. will post 1.78 EPS for the current fiscal year.

Centerra Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a $0.07 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.28 annualized dividend and a dividend yield of 1.7%. Centerra Gold’s dividend payout ratio is currently 6.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Zacks Research lowered Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Weiss Ratings restated a “buy (b)” rating on shares of Centerra Gold in a research note on Friday, March 27th. Wall Street Zen raised shares of Centerra Gold from a “hold” rating to a “buy” rating in a report on Sunday, June 21st. Finally, Scotiabank reissued an “outperform” rating on shares of Centerra Gold in a research note on Tuesday. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Centerra Gold has an average rating of “Moderate Buy” and an average price target of $16.67.

Centerra Gold Company 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.