Hartree Partners LP Trims Stock Position in Centerra Gold Inc. (NYSE:CGAU)

Hartree Partners LP trimmed its holdings in Centerra Gold Inc. (NYSE:CGAU) by 29.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 410,000 shares of the company’s stock after selling 168,450 shares during the period. Centerra Gold makes up 0.9% of Hartree Partners LP’s portfolio, making the stock its 28th biggest holding. Hartree Partners LP’s holdings in Centerra Gold were worth $2,332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CGAU. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Centerra Gold by 8.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,308 shares of the company’s stock valued at $419,000 after acquiring an additional 4,373 shares in the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of Centerra Gold by 11.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 50,000 shares of the company’s stock valued at $284,000 after acquiring an additional 5,000 shares in the last quarter. Toronto Dominion Bank lifted its position in Centerra Gold by 22.8% in the 3rd quarter. Toronto Dominion Bank now owns 33,921 shares of the company’s stock worth $243,000 after buying an additional 6,307 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Centerra Gold in the 4th quarter valued at $59,000. Finally, Capstone Investment Advisors LLC acquired a new position in Centerra Gold in the 3rd quarter valued at $89,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CGAU shares. Scotiabank dropped their price objective on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a research note on Wednesday, January 15th. Desjardins lowered shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 13th. CIBC restated a “neutral” rating on shares of Centerra Gold in a research note on Thursday, March 20th. National Bank Financial upgraded Centerra Gold to a “strong-buy” rating in a research note on Friday, March 21st. Finally, Cormark downgraded shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.00.

Centerra Gold Stock Down 1.0 %

CGAU stock opened at $6.35 on Friday. The firm has a market cap of $1.33 billion, a PE ratio of 17.63 and a beta of 0.92. The business has a 50 day moving average of $6.17 and a 200-day moving average of $6.34. Centerra Gold Inc. has a 12-month low of $5.46 and a 12-month 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 the consensus estimate of $0.20 by ($0.03). The business had revenue of $302.40 million during the quarter, compared to the consensus estimate of $316.92 million. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. On average, research analysts expect that Centerra Gold Inc. will post 0.59 earnings per share for the current year.

Centerra Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 4.41%. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date was Thursday, March 13th. Centerra Gold’s dividend payout ratio (DPR) is presently 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.