Goldman Sachs Group Inc. Sells 1,834,050 Shares of Centerra Gold Inc. $CGAU

Goldman Sachs Group Inc. cut its holdings in Centerra Gold Inc. (NYSE:CGAU) by 18.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,063,254 shares of the company’s stock after selling 1,834,050 shares during the period. Goldman Sachs Group Inc. owned approximately 4.04% of Centerra Gold worth $115,869,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Burkett Financial Services LLC bought a new stake in Centerra Gold in the third quarter worth $30,000. Osaic Holdings Inc. boosted its holdings in 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 purchasing an additional 1,839 shares in the last quarter. Global Retirement Partners LLC bought a new stake in Centerra Gold in the fourth quarter worth $36,000. Leonteq Securities AG bought a new stake in Centerra Gold in the fourth quarter worth $72,000. Finally, State of Wyoming bought a new stake in Centerra Gold in the third quarter worth $90,000. 55.40% of the stock is currently owned by institutional investors.

Centerra Gold Stock Up 2.2%

Shares of CGAU opened at $15.61 on Tuesday. The company has a 50-day simple moving average of $17.91 and a 200-day simple moving average of $16.90. The firm has a market capitalization of $3.10 billion, a P/E ratio of 5.03, a P/E/G ratio of 0.73 and a beta of 0.79. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.60 and a current ratio of 2.41. Centerra Gold Inc. has a 52 week low of $6.71 and a 52 week high of $21.17.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $484.70 million during the quarter, compared to analyst estimates of $373.47 million. Centerra Gold had a net margin of 40.32% and a return on equity of 14.90%. On average, equities research analysts expect that Centerra Gold Inc. will post 1.79 earnings per share for the current year.

Centerra Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.8%. Centerra Gold’s dividend payout ratio is currently 6.77%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CGAU. Zacks Research cut shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Centerra Gold in a report on Friday, March 27th. Scotiabank boosted their target price on shares of Centerra Gold from $19.00 to $21.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. Finally, Wall Street Zen lowered shares of Centerra Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 25th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Centerra Gold presently has a consensus rating of “Moderate Buy” and an average target price 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.