Russell Investments Group Ltd. Sells 196,266 Shares of Centerra Gold Inc. $CGAU

Russell Investments Group Ltd. lessened its position in shares of Centerra Gold Inc. (NYSE:CGAU) by 21.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 699,988 shares of the company’s stock after selling 196,266 shares during the period. Russell Investments Group Ltd. owned 0.33% of Centerra Gold worth $4,440,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Centerra Gold by 0.7% during the first quarter. Vanguard Group Inc. now owns 8,310,457 shares of the company’s stock worth $52,722,000 after buying an additional 55,839 shares during the last quarter. Royal Bank of Canada grew its holdings in Centerra Gold by 7.2% in the fourth quarter. Royal Bank of Canada now owns 7,950,409 shares of the company’s stock worth $45,238,000 after purchasing an additional 530,601 shares during the period. Man Group plc grew its holdings in Centerra Gold by 43.2% in the fourth quarter. Man Group plc now owns 3,038,739 shares of the company’s stock worth $17,283,000 after purchasing an additional 916,255 shares during the period. Nuveen LLC acquired a new stake in Centerra Gold in the first quarter worth $14,634,000. Finally, Invesco Ltd. grew its holdings in Centerra Gold by 37.5% in the first quarter. Invesco Ltd. now owns 2,180,721 shares of the company’s stock worth $13,848,000 after purchasing an additional 594,674 shares during the period. Institutional investors own 55.40% of the company’s stock.

Centerra Gold Stock Up 4.7%

Centerra Gold stock opened at $7.7450 on Friday. Centerra Gold Inc. has a 52 week low of $5.41 and a 52 week high of $7.82. The company’s 50 day moving average price is $7.23 and its two-hundred day moving average price is $6.76. The stock has a market cap of $1.57 billion, a P/E ratio of 23.47, a P/E/G ratio of 0.57 and a beta of 0.80.

Centerra Gold (NYSE:CGAU) last posted its earnings results on Wednesday, August 6th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.17 by $0.08. Centerra Gold had a net margin of 6.21% and a return on equity of 9.12%. The firm had revenue of $288.30 million for the quarter, compared to analysts’ expectations of $319.42 million. On average, equities analysts anticipate that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Thursday, August 21st. Centerra Gold’s payout ratio is presently 60.61%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. CIBC restated an “outperform” rating on shares of Centerra Gold in a report on Tuesday, July 15th. Wall Street Zen upgraded shares of Centerra Gold from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. BMO Capital Markets cut shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, August 8th. National Bankshares reiterated an “outperform” rating on shares of Centerra Gold in a report on Tuesday, June 24th. Finally, Cibc World Mkts upgraded shares of Centerra Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.00.

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.