Raymond James Financial Inc. Takes Position in Centerra Gold Inc. (NYSE:CGAU)

Raymond James Financial Inc. acquired a new stake in shares of Centerra Gold Inc. (NYSE:CGAU) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 47,102 shares of the company’s stock, valued at approximately $268,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CGAU. SG Americas Securities LLC acquired a new stake in Centerra Gold in the fourth quarter worth about $59,000. Wilmington Savings Fund Society FSB purchased a new position in Centerra Gold in the 4th quarter worth $80,000. HighTower Advisors LLC acquired a new position in Centerra Gold in the 3rd quarter worth approximately $127,000. Entropy Technologies LP acquired a new stake in shares of Centerra Gold in the fourth quarter worth $177,000. Finally, Verition Fund Management LLC purchased a new position in shares of Centerra Gold during the third quarter worth $206,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CGAU shares. Desjardins lowered Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 13th. Scotiabank lowered their target price on shares of Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, January 15th. National Bank Financial upgraded Centerra Gold to a “strong-buy” rating in a research note on Friday, March 21st. CIBC reiterated a “neutral” rating on shares of Centerra Gold in a research report on Thursday, March 20th. Finally, National Bankshares reiterated an “outperform” rating on shares of Centerra Gold in a research report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $11.00.

Centerra Gold Stock Performance

NYSE CGAU opened at $6.27 on Friday. The stock’s fifty day moving average is $6.14 and its two-hundred day moving average is $6.27. The firm has a market capitalization of $1.31 billion, a P/E ratio of 17.40 and a beta of 0.81. Centerra Gold Inc. has a fifty-two week low of $5.41 and a fifty-two week high of $7.82.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. The business had revenue of $302.40 million during the quarter, compared to analyst estimates of $316.92 million. As a group, sell-side analysts forecast that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $0.07 per share. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.28 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend was Thursday, March 13th. Centerra Gold’s dividend payout ratio (DPR) is currently 52.78%.

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