Centerra Gold Inc. (NYSE:CGAU) Shares Bought by Credit Suisse AG

Credit Suisse AG boosted its stake in shares of Centerra Gold Inc. (NYSE:CGAU) by 2.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 334,759 shares of the company’s stock after acquiring an additional 7,053 shares during the quarter. Credit Suisse AG owned about 0.15% of Centerra Gold worth $2,922,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CGAU. First Trust Advisors LP acquired a new stake in shares of Centerra Gold in the 4th quarter valued at approximately $64,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Centerra Gold in the 4th quarter valued at approximately $66,000. UBS Group AG lifted its holdings in shares of Centerra Gold by 431.3% in the 3rd quarter. UBS Group AG now owns 22,537 shares of the company’s stock valued at $99,000 after buying an additional 18,295 shares during the period. Citigroup Inc. lifted its holdings in shares of Centerra Gold by 46.8% in the 4th quarter. Citigroup Inc. now owns 23,644 shares of the company’s stock valued at $122,000 after buying an additional 7,543 shares during the period. Finally, CM Management LLC acquired a new stake in shares of Centerra Gold in the 4th quarter valued at approximately $130,000. 51.53% of the stock is owned by institutional investors and hedge funds.

Centerra Gold Stock Performance

Centerra Gold stock opened at $5.89 on Friday. The stock has a fifty day moving average of $6.02 and a two-hundred day moving average of $6.22. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -4.67 and a beta of 0.80. Centerra Gold Inc. has a fifty-two week low of $3.77 and a fifty-two week high of $7.71.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings results on Monday, July 31st. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $184.52 million for the quarter. Centerra Gold had a negative return on equity of 6.96% and a negative net margin of 34.71%. During the same period last year, the firm earned ($0.12) earnings per share. On average, analysts forecast that Centerra Gold Inc. will post 0.09 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 15th were given 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 was Monday, August 14th. This represents a $0.21 annualized dividend and a yield of 3.60%. Centerra Gold’s dividend payout ratio (DPR) is presently -16.67%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CGAU shares. National Bank Financial reduced their price target on Centerra Gold from C$13.00 to C$12.50 in a report on Thursday, May 18th. Credit Suisse Group lifted their price objective on Centerra Gold from C$8.00 to C$9.50 in a report on Tuesday, June 20th. TD Securities raised Centerra Gold from a “hold” rating to a “buy” rating in a report on Wednesday, May 31st. CIBC reduced their price objective on Centerra Gold from C$12.00 to C$11.00 in a report on Tuesday, May 16th. Finally, Raymond James raised Centerra Gold from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 31st.

About Centerra Gold

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 include the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt Gold Mine located in Turkey.