Goldman Sachs Group Inc. Buys 247,027 Shares of Centerra Gold Inc. (NYSE:CGAU)

Goldman Sachs Group Inc. increased its position in shares of Centerra Gold Inc. (NYSE:CGAU) by 8.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,164,687 shares of the company’s stock after acquiring an additional 247,027 shares during the period. Goldman Sachs Group Inc. owned about 1.47% of Centerra Gold worth $18,862,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CoreCommodity Management LLC grew its position in shares of Centerra Gold by 2.7% in the 4th quarter. CoreCommodity Management LLC now owns 348,100 shares of the company’s stock valued at $2,085,000 after buying an additional 9,000 shares during the last quarter. Pale Fire Capital SE boosted its stake in Centerra Gold by 1,136.9% during the fourth quarter. Pale Fire Capital SE now owns 1,807,787 shares of the company’s stock worth $10,774,000 after acquiring an additional 1,661,638 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Centerra Gold by 2.1% in the 4th quarter. CIBC Asset Management Inc now owns 211,525 shares of the company’s stock valued at $1,267,000 after buying an additional 4,327 shares during the period. Campbell & CO Investment Adviser LLC raised its stake in Centerra Gold by 82.1% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 85,148 shares of the company’s stock worth $507,000 after buying an additional 38,384 shares during the period. Finally, TD Asset Management Inc raised its stake in Centerra Gold by 137.9% during the 4th quarter. TD Asset Management Inc now owns 1,369,548 shares of the company’s stock worth $8,216,000 after buying an additional 793,913 shares during the period. Institutional investors and hedge funds own 55.40% of the company’s stock.

Centerra Gold Stock Performance

Shares of Centerra Gold stock opened at $6.81 on Thursday. The stock has a fifty day simple moving average of $6.70 and a 200 day simple moving average of $5.98. Centerra Gold Inc. has a 12-month low of $4.47 and a 12-month high of $7.51. The company has a market capitalization of $1.46 billion, a P/E ratio of 25.20 and a beta of 0.99.

Centerra Gold (NYSE:CGAU) last posted its earnings results on Tuesday, May 14th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). Centerra Gold had a return on equity of 5.58% and a net margin of 4.99%. The firm had revenue of $305.88 million during the quarter. During the same period last year, the firm posted ($0.24) EPS. On average, analysts predict that Centerra Gold Inc. will post 0.76 EPS for the current year.

Centerra Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th were paid a $0.051 dividend. The ex-dividend date was Wednesday, May 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.00%. Centerra Gold’s payout ratio is presently 74.07%.

Analyst Ratings Changes

CGAU has been the topic of a number of research reports. Scotiabank upped their target price on Centerra Gold from $8.00 to $9.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 23rd. CIBC upped their price objective on shares of Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a report on Monday, April 15th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Centerra Gold in a report on Monday, April 8th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $9.30.

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.