63,481 Shares in Centerra Gold Inc. $CGAU Purchased by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd purchased a new stake in Centerra Gold Inc. (NYSE:CGAU) in the second quarter, HoldingsChannel reports. The firm purchased 63,481 shares of the company’s stock, valued at approximately $1,005,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CGAU. Osaic Holdings Inc. raised its holdings in Centerra Gold by 63.0% in the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock valued at $34,000 after acquiring an additional 1,839 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of Centerra Gold during the 4th quarter valued at $36,000. Leonteq Securities AG acquired a new stake in shares of Centerra Gold during the 4th quarter worth $72,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Centerra Gold during the 1st quarter worth $97,000. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of Centerra Gold in the fourth quarter worth $100,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Centerra Gold Price Performance

Shares of CGAU stock opened at $21.54 on Monday. The business has a fifty day simple moving average of $17.04 and a 200 day simple moving average of $17.76. The company has a market cap of $4.22 billion, a P/E ratio of 6.88, a P/E/G ratio of 0.80 and a beta of 0.80. The company has a quick ratio of 1.49, a current ratio of 2.42 and a debt-to-equity ratio of 0.03. Centerra Gold Inc. has a twelve month low of $6.99 and a twelve month high of $22.30.

Centerra Gold (NYSE:CGAU) last released its earnings results on Tuesday, July 28th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $442.71 million for the quarter, compared to analysts’ expectations of $394.27 million. Centerra Gold had a return on equity of 15.35% and a net margin of 36.92%. On average, sell-side analysts forecast that Centerra Gold Inc. will post 1.63 EPS for the current fiscal year.

Centerra Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. Centerra Gold’s payout ratio is 6.71%.

Analyst Ratings Changes

Several research firms recently weighed in on CGAU. Weiss Ratings cut shares of Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Centerra Gold in a report on Thursday, July 30th. Wall Street Zen downgraded shares of Centerra Gold from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Scotiabank reissued an “outperform” rating on shares of Centerra Gold in a research note on Tuesday, August 4th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.50.

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.