Old West Investment Management LLC Increases Stock Holdings in Centerra Gold Inc. (NYSE:CGAU)

Old West Investment Management LLC boosted its stake in Centerra Gold Inc. (NYSE:CGAU) by 100.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 400,000 shares of the company’s stock after buying an additional 200,000 shares during the quarter. Old West Investment Management LLC’s holdings in Centerra Gold were worth $2,864,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Acadian Asset Management LLC raised its holdings in shares of Centerra Gold by 594.6% in the second quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company’s stock valued at $59,532,000 after purchasing an additional 7,586,370 shares during the last quarter. Bank of Montreal Can grew its position in Centerra Gold by 158.9% in the 2nd quarter. Bank of Montreal Can now owns 2,433,241 shares of the company’s stock worth $16,881,000 after purchasing an additional 1,493,349 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Centerra Gold by 132.8% during the 2nd quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock worth $12,345,000 after buying an additional 1,047,142 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Centerra Gold during the 2nd quarter worth approximately $6,772,000. Finally, Donald Smith & CO. Inc. boosted its stake in shares of Centerra Gold by 8.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 10,747,290 shares of the company’s stock worth $63,516,000 after buying an additional 867,334 shares during the last quarter. 55.40% of the stock is currently owned by institutional investors.

Centerra Gold Price Performance

Shares of CGAU opened at $6.36 on Wednesday. Centerra Gold Inc. has a 1 year low of $4.47 and a 1 year high of $7.82. The stock’s fifty day moving average price is $7.07 and its two-hundred day moving average price is $6.87. The firm has a market cap of $1.35 billion, a PE ratio of 13.25 and a beta of 0.98.

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

Centerra Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.052 dividend. The ex-dividend date 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 yield of 3.27%. Centerra Gold’s dividend payout ratio (DPR) is 41.67%.

Analyst Upgrades and Downgrades

CGAU has been the topic of a number of recent analyst reports. Cibc World Mkts lowered Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. CIBC reiterated a “neutral” rating and set a $13.00 target price (up from $11.00) on shares of Centerra Gold in a research note on Wednesday, July 10th. Finally, Desjardins raised shares of Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.00.

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.