Van ECK Associates Corp Cuts Stock Position in Centerra Gold Inc. $CGAU

Van ECK Associates Corp trimmed its holdings in shares of Centerra Gold Inc. (NYSE:CGAU) by 17.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,337,575 shares of the company’s stock after selling 2,725,493 shares during the quarter. Van ECK Associates Corp owned approximately 0.07% of Centerra Gold worth $211,572,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CGAU. Donald Smith & CO. Inc. acquired a new stake in Centerra Gold in the 2nd quarter valued at $245,004,000. Goldman Sachs Group Inc. raised its position in Centerra Gold by 57.2% during the first quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock worth $84,739,000 after acquiring an additional 4,853,494 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Centerra Gold by 0.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 8,314,250 shares of the company’s stock valued at $147,899,000 after purchasing an additional 39,315 shares in the last quarter. Man Group plc lifted its holdings in Centerra Gold by 9.7% during the second quarter. Man Group plc now owns 3,649,899 shares of the company’s stock valued at $26,241,000 after purchasing an additional 323,860 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its position in shares of Centerra Gold by 62.9% in the fourth quarter. Hillsdale Investment Management Inc. now owns 3,513,875 shares of the company’s stock valued at $50,678,000 after purchasing an additional 1,356,660 shares during the period. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Centerra Gold Trading Down 3.2%

Shares of Centerra Gold stock opened at $23.48 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.42 and a quick ratio of 1.49. The stock’s 50 day simple moving average is $18.43 and its 200-day simple moving average is $18.13. The stock has a market cap of $4.61 billion, a P/E ratio of 7.50, a P/E/G ratio of 0.91 and a beta of 0.80. Centerra Gold Inc. has a 1-year low of $7.84 and a 1-year high of $24.52.

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

Centerra Gold Dividend Announcement

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

Wall Street Analyst Weigh In

CGAU has been the subject of several research analyst reports. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Centerra Gold in a research report on Thursday, July 30th. Scotiabank reiterated an “outperform” rating on shares of Centerra Gold in a research note on Tuesday, August 4th. Weiss Ratings cut Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Finally, Wall Street Zen downgraded Centerra Gold from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Centerra Gold has a consensus rating of “Moderate Buy” and a consensus 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.