Cibc World Market Inc. Purchases Shares of 63,010 Centerra Gold Inc. $CGAU

Cibc World Market Inc. purchased a new position in shares of Centerra Gold Inc. (NYSE:CGAU) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 63,010 shares of the company’s stock, valued at approximately $998,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CGAU. Janney Montgomery Scott LLC increased its position in shares of Centerra Gold by 2.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 24,860 shares of the company’s stock valued at $357,000 after purchasing an additional 575 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Centerra Gold by 2.1% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 36,939 shares of the company’s stock valued at $531,000 after buying an additional 747 shares in the last quarter. CWM LLC lifted its position in Centerra Gold by 5.3% in the 4th quarter. CWM LLC now owns 16,300 shares of the company’s stock worth $234,000 after buying an additional 820 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in Centerra Gold by 3.5% in the 1st quarter. Pictet Asset Management Holding SA now owns 39,102 shares of the company’s stock worth $693,000 after buying an additional 1,340 shares during the last quarter. Finally, Baron Wealth Management LLC lifted its position in Centerra Gold by 6.2% in the 1st quarter. Baron Wealth Management LLC now owns 27,602 shares of the company’s stock worth $491,000 after buying an additional 1,621 shares during the last quarter. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Centerra Gold Stock Up 2.5%

Shares of NYSE:CGAU opened at $24.30 on Friday. The stock has a market capitalization of $4.77 billion, a P/E ratio of 7.77, a price-to-earnings-growth ratio of 0.89 and a beta of 0.80. The stock’s 50-day moving average price is $18.29 and its 200-day moving average price is $18.09. The company has a current ratio of 2.42, a quick ratio of 1.49 and a debt-to-equity ratio of 0.03. Centerra Gold Inc. has a 12-month low of $7.73 and a 12-month high of $24.32.

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

Centerra Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Centerra Gold’s payout ratio is 6.39%.

Analysts Set New Price Targets

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