Old West Investment Management LLC Has $2.86 Million Position in Centerra Gold Inc. (NYSE:CGAU)

Old West Investment Management LLC increased its holdings in shares of Centerra Gold Inc. (NYSE:CGAU) by 100.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 400,000 shares of the company’s stock after buying an additional 200,000 shares during the period. Old West Investment Management LLC owned about 0.19% of Centerra Gold worth $2,864,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CGAU. Integrated Advisors Network LLC bought a new stake in shares of Centerra Gold in the 3rd quarter valued at about $367,000. Semanteon Capital Management LP lifted its stake in shares of Centerra Gold by 152.3% in the third quarter. Semanteon Capital Management LP now owns 46,972 shares of the company’s stock worth $336,000 after acquiring an additional 28,358 shares during the period. CWM LLC bought a new stake in Centerra Gold in the third quarter valued at approximately $57,000. Mackenzie Financial Corp boosted its holdings in Centerra Gold by 111.3% in the second quarter. Mackenzie Financial Corp now owns 1,493,717 shares of the company’s stock valued at $10,046,000 after acquiring an additional 786,688 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Centerra Gold by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 178,489 shares of the company’s stock valued at $1,199,000 after purchasing an additional 2,120 shares during the period. 55.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Desjardins raised shares of Centerra Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Cibc World Mkts downgraded Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, CIBC reissued a “neutral” rating and issued a $13.00 price target (up from $11.00) on shares of Centerra Gold in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Centerra Gold Price Performance

Shares of CGAU opened at $6.36 on Wednesday. Centerra Gold Inc. has a one year low of $4.47 and a one year high of $7.82. The company has a market cap of $1.35 billion, a PE ratio of 13.25 and a beta of 0.98. The stock has a 50-day moving average of $7.07 and a 200-day moving average of $6.87.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. The firm had revenue of $323.93 million during the quarter. During the same period in the previous year, the business earned $0.20 earnings per share. Analysts expect that Centerra Gold Inc. will post 0.84 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.052 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 annualized dividend and a dividend yield of 3.27%. Centerra Gold’s payout ratio is presently 41.67%.

Centerra Gold Company Profile

Centerra Gold Inc, a gold mining company, engages in the acquisition, exploration, development, and operation of gold and copper properties in North America, Turkey, and internationally. The company explores for gold, copper, and molybdenum deposits. Its flagship projects are the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt gold mine located in Turkey.