Toronto Dominion Bank Cuts Stock Position in Centerra Gold Inc. (NYSE:CGAU)

Toronto Dominion Bank lessened its stake in shares of Centerra Gold Inc. (NYSE:CGAU – Get Rating) by 67.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,651 shares of the company’s stock after selling 146,308 shares during the quarter. Toronto Dominion Bank’s holdings in Centerra Gold were worth $366,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Helikon Investments Ltd increased its stake in Centerra Gold by 36.2% during the third quarter. Helikon Investments Ltd now owns 17,634,668 shares of the company’s stock valued at $77,769,000 after purchasing an additional 4,684,526 shares during the last quarter. Donald Smith & CO. Inc. raised its position in shares of Centerra Gold by 196.4% during the 3rd quarter. Donald Smith & CO. Inc. now owns 6,211,129 shares of the company’s stock worth $27,391,000 after purchasing an additional 4,115,860 shares during the period. Condire Management LP boosted its position in Centerra Gold by 50.5% during the 3rd quarter. Condire Management LP now owns 10,531,722 shares of the company’s stock valued at $46,303,000 after purchasing an additional 3,534,239 shares during the period. National Bank of Canada FI increased its position in Centerra Gold by 11,061.8% in the fourth quarter. National Bank of Canada FI now owns 1,796,149 shares of the company’s stock worth $9,298,000 after buying an additional 1,780,057 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of Centerra Gold by 49.8% during the first quarter. Royal Bank of Canada now owns 4,729,149 shares of the company’s stock valued at $46,536,000 after acquiring an additional 1,571,260 shares during the period. Hedge funds and other institutional investors own 51.63% of the company’s stock.

Centerra Gold Stock Performance

CGAU opened at $7.05 on Thursday. The firm has a market cap of $1.54 billion, a P/E ratio of -15.67 and a beta of 0.83. The business has a 50 day moving average price of $6.71 and a 200 day moving average price of $5.98. Centerra Gold Inc. has a twelve month low of $3.77 and a twelve month high of $8.59.

Centerra Gold (NYSE:CGAU – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. The business had revenue of $208.30 million during the quarter. Centerra Gold had a negative net margin of 9.08% and a negative return on equity of 0.47%. As a group, analysts anticipate 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 Tuesday, March 28th. Stockholders of record on Tuesday, March 14th were paid a $0.053 dividend. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, March 13th. This represents a $0.21 annualized dividend and a dividend yield of 3.01%. Centerra Gold’s dividend payout ratio (DPR) is presently -46.67%.

Analysts Set New Price Targets

Several research analysts recently weighed in on CGAU shares. CIBC raised their target price on Centerra Gold from C$7.75 to C$10.50 in a research note on Tuesday, February 7th. National Bank Financial increased their target price on shares of Centerra Gold from C$12.50 to C$13.00 in a research report on Tuesday, April 18th. TheStreet lowered Centerra Gold from a “c” rating to a “d+” rating in a report on Friday, March 3rd. Finally, Raymond James upped their target price on Centerra Gold from C$10.50 to C$11.00 in a research report on Monday, February 27th.

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.