Virtus Advisers LLC Makes New $5.17 Million Investment in Centerra Gold Inc. $CGAU

Virtus Advisers LLC acquired a new stake in Centerra Gold Inc. (NYSE:CGAU) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 241,999 shares of the company’s stock, valued at approximately $5,170,000. Centerra Gold comprises approximately 2.0% of Virtus Advisers LLC’s investment portfolio, making the stock its 2nd biggest position. Virtus Advisers LLC owned 0.12% of Centerra Gold at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CGAU. Osaic Holdings Inc. increased its stake in shares of Centerra Gold by 63.0% in the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock worth $34,000 after buying an additional 1,839 shares during the period. Global Retirement Partners LLC bought a new stake in Centerra Gold during the 4th quarter valued at $36,000. Leonteq Securities AG purchased a new stake in Centerra Gold during the 4th quarter valued at $72,000. Dynamic Technology Lab Private Ltd purchased a new stake in Centerra Gold during the 1st quarter valued at $97,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in Centerra Gold in the 4th quarter worth $100,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Centerra Gold Stock Performance

NYSE:CGAU opened at $23.54 on Friday. The company has a quick ratio of 1.49, a current ratio of 2.42 and a debt-to-equity ratio of 0.03. The firm’s fifty day simple moving average is $17.60 and its 200 day simple moving average is $17.86. The stock has a market cap of $4.62 billion, a P/E ratio of 7.52, a price-to-earnings-growth ratio of 0.84 and a beta of 0.80. Centerra Gold Inc. has a twelve month low of $7.19 and a twelve month high of $23.55.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. Centerra Gold had a net margin of 36.92% and a return on equity of 15.35%. The business had revenue of $442.71 million during the quarter, compared to analyst estimates of $394.27 million. As a group, research analysts predict that Centerra Gold Inc. will post 1.63 EPS for the current year.

Centerra Gold Dividend Announcement

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 given a dividend of $0.07 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.28 annualized dividend and a dividend yield of 1.2%. Centerra Gold’s payout ratio is currently 6.39%.

Analysts Set New Price Targets

CGAU has been the topic of a number of analyst reports. Scotiabank restated an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, August 4th. Wall Street Zen cut Centerra Gold from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Centerra Gold in a report on Thursday, July 30th. Finally, Weiss Ratings lowered Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Centerra Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

About Centerra Gold

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.