Centerra Gold Inc. (NYSE:CGAU) Stock Holdings Trimmed by Royal Bank of Canada

Royal Bank of Canada lowered its holdings in shares of Centerra Gold Inc. (NYSE:CGAU – Get Rating) by 57.6% during the 3rd quarter, Holdings Channel reports. The fund owned 1,786,230 shares of the company’s stock after selling 2,427,783 shares during the period. Royal Bank of Canada’s holdings in Centerra Gold were worth $7,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. PDT Partners LLC acquired a new position in shares of Centerra Gold during the 3rd quarter valued at $87,000. Mackenzie Financial Corp increased its position in shares of Centerra Gold by 3.0% during the 2nd quarter. Mackenzie Financial Corp now owns 699,598 shares of the company’s stock valued at $4,745,000 after purchasing an additional 20,502 shares during the period. Bessemer Group Inc. acquired a new position in shares of Centerra Gold during the 3rd quarter valued at $1,379,000. Donald Smith & CO. Inc. grew its holdings in shares of Centerra Gold by 196.4% in the 3rd quarter. Donald Smith & CO. Inc. now owns 6,211,129 shares of the company’s stock worth $27,391,000 after acquiring an additional 4,115,860 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Centerra Gold by 83.0% in the 2nd quarter. Deutsche Bank AG now owns 766,393 shares of the company’s stock worth $5,173,000 after acquiring an additional 347,544 shares during the last quarter. Institutional investors own 51.63% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. TheStreet cut Centerra Gold from a “c” rating to a “d+” rating in a report on Friday, March 3rd. Raymond James lifted their target price on Centerra Gold from C$10.50 to C$11.00 in a report on Monday, February 27th. National Bank Financial lifted their target price on Centerra Gold from C$11.50 to C$12.50 in a report on Tuesday, February 14th. Finally, CIBC lifted their target price on Centerra Gold from C$7.75 to C$10.50 in a report on Tuesday, February 7th.

Centerra Gold Trading Up 1.2 %

Shares of CGAU stock opened at $5.97 on Friday. Centerra Gold Inc. has a 1-year low of $3.77 and a 1-year high of $10.54. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -13.27 and a beta of 0.81. The stock’s fifty day simple moving average is $6.19 and its 200-day simple moving average is $5.28.

Centerra Gold (NYSE:CGAU – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. Centerra Gold had a negative return on equity of 0.47% and a negative net margin of 9.08%. The business had revenue of $208.30 million for the quarter. On average, sell-side analysts predict that Centerra Gold Inc. will post 0.48 EPS for the current year.

Centerra Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 28th. Stockholders of record on Tuesday, March 14th will be issued a dividend of $0.053 per share. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Monday, March 13th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.55%. Centerra Gold’s payout ratio is currently -46.67%.

About Centerra Gold

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Centerra Gold, Inc engages in the operation, development, exploration and acquisition of gold and copper properties. It operates through the following segments: Kumtor, Mount Milligan, and Öksüt. The company was founded on November 7, 2002 and is headquartered in Toronto, Canada.