Heartland Advisors Inc. Invests $34.08 Million in Centerra Gold Inc. $CGAU

Heartland Advisors Inc. bought a new position in shares of Centerra Gold Inc. (NYSE:CGAU) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,148,931 shares of the company’s stock, valued at approximately $34,082,000. Centerra Gold accounts for about 1.5% of Heartland Advisors Inc.’s portfolio, making the stock its 3rd biggest holding.

Several other large investors have also recently bought and sold shares of CGAU. Osaic Holdings Inc. boosted 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 purchasing an additional 1,839 shares during the period. Global Retirement Partners LLC bought a new position in shares of Centerra Gold during the 4th quarter worth about $36,000. Leonteq Securities AG bought a new position in shares of Centerra Gold during the 4th quarter worth about $72,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Centerra Gold during the second quarter valued at about $83,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Centerra Gold during the first quarter valued at about $97,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Centerra Gold Price Performance

Shares of CGAU stock opened at $23.74 on Friday. The stock’s fifty day simple moving average is $17.75 and its 200 day simple moving average is $17.90. Centerra Gold Inc. has a one year low of $7.31 and a one year high of $24.16. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 7.58, a P/E/G ratio of 0.88 and a beta of 0.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.42 and a quick ratio of 1.49.

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

Centerra Gold Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.2%. Centerra Gold’s dividend payout ratio (DPR) is 6.39%.

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.