Van ECK Associates Corp Has $122.34 Million Position in Centerra Gold Inc. (NYSE:CGAU)

Van ECK Associates Corp boosted its position in Centerra Gold Inc. (NYSE:CGAU) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,482,153 shares of the company’s stock after purchasing an additional 244,155 shares during the period. Van ECK Associates Corp owned 0.10% of Centerra Gold worth $122,339,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CGAU. CIBC Asset Management Inc boosted its position in shares of Centerra Gold by 1.8% during the 3rd quarter. CIBC Asset Management Inc now owns 207,198 shares of the company’s stock valued at $1,016,000 after purchasing an additional 3,640 shares in the last quarter. Versor Investments LP bought a new position in Centerra Gold in the third quarter worth approximately $52,000. Heron Bay Capital Management bought a new position in Centerra Gold in the fourth quarter worth approximately $77,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Centerra Gold by 33.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,935 shares of the company’s stock worth $265,000 after purchasing an additional 13,553 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Centerra Gold by 134.2% in the third quarter. Hsbc Holdings PLC now owns 35,587 shares of the company’s stock worth $174,000 after purchasing an additional 20,389 shares during the last quarter. Institutional investors own 55.40% of the company’s stock.

Centerra Gold Stock Down 1.7 %

Shares of CGAU stock traded down $0.11 during mid-day trading on Tuesday, hitting $6.18. The company’s stock had a trading volume of 89,230 shares, compared to its average volume of 407,983. Centerra Gold Inc. has a 52-week low of $4.47 and a 52-week high of $7.08. The business has a 50-day moving average price of $5.76 and a 200 day moving average price of $5.61.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). Centerra Gold had a positive return on equity of 0.62% and a negative net margin of 7.43%. The business had revenue of $340.00 million during the quarter. Equities analysts forecast that Centerra Gold Inc. will post 0.55 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 13th were given a dividend of $0.0518 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 dividend on an annualized basis and a yield of 3.35%. Centerra Gold’s dividend payout ratio is -43.24%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Centerra Gold in a research report on Monday, April 8th. BMO Capital Markets assumed coverage on Centerra Gold in a report on Wednesday, February 21st. They issued an “outperform” rating for the company. Finally, CIBC lifted their price objective on Centerra Gold from $9.50 to $11.00 and gave the company an “outperformer” rating in a research note on Monday, April 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Centerra Gold currently has a consensus rating of “Buy” and an average target price of $9.78.

Centerra Gold 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.