Van ECK Associates Corp Grows Stock Holdings in Centerra Gold Inc. (NYSE:CGAU)

Van ECK Associates Corp lifted its position in shares of Centerra Gold Inc. (NYSE:CGAU) by 1.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,482,153 shares of the company’s stock after buying an additional 244,155 shares during the quarter. Van ECK Associates Corp owned approximately 9.50% of Centerra Gold worth $122,339,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CGAU. CIBC Asset Management Inc lifted its stake in Centerra Gold by 1.8% in the 3rd quarter. CIBC Asset Management Inc now owns 207,198 shares of the company’s stock worth $1,016,000 after purchasing an additional 3,640 shares in the last quarter. Versor Investments LP bought a new stake in shares of Centerra Gold in the 3rd quarter worth about $52,000. Heron Bay Capital Management bought a new stake in shares of Centerra Gold in the 4th quarter worth about $77,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Centerra Gold by 33.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,935 shares of the company’s stock worth $265,000 after buying an additional 13,553 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Centerra Gold by 134.2% in the 3rd quarter. Hsbc Holdings PLC now owns 35,587 shares of the company’s stock worth $174,000 after buying an additional 20,389 shares during the last quarter. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CGAU. CIBC boosted their target price on shares of Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a report on Monday, April 15th. BMO Capital Markets began coverage on shares of Centerra Gold in a report on Wednesday, February 21st. They set an “outperform” rating on the stock. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Centerra Gold in a report on Monday, April 8th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Centerra Gold currently has an average rating of “Buy” and a consensus price target of $9.78.

Centerra Gold Price Performance

CGAU stock traded down $0.11 during mid-day trading on Tuesday, reaching $6.18. The company had a trading volume of 89,230 shares, compared to its average volume of 407,983. The firm has a 50 day moving average of $5.76 and a 200 day moving average of $5.61. Centerra Gold Inc. has a 12 month low of $4.47 and a 12 month high of $7.08.

Centerra Gold (NYSE:CGAU) last issued its earnings results on Thursday, February 22nd. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). Centerra Gold had a positive return on equity of 0.62% and a negative net margin of 7.43%. The company had revenue of $340.00 million during the quarter. As a group, equities analysts anticipate that Centerra Gold Inc. will post 0.55 EPS for the current year.

Centerra Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were given a $0.0518 dividend. This represents a $0.21 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Tuesday, March 12th. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio is presently -43.24%.

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.