Centerra Gold Inc. (NYSE:CGAU) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in Centerra Gold Inc. (NYSE:CGAU) by 74.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,112 shares of the company’s stock after selling 40,312 shares during the period. Bank of New York Mellon Corp’s holdings in Centerra Gold were worth $80,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Quantbot Technologies LP lifted its stake in Centerra Gold by 129.6% in the third quarter. Quantbot Technologies LP now owns 57,796 shares of the company’s stock valued at $414,000 after buying an additional 32,621 shares during the last quarter. FMR LLC boosted its stake in Centerra Gold by 114.5% during the 3rd quarter. FMR LLC now owns 37,100 shares of the company’s stock valued at $266,000 after purchasing an additional 19,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Centerra Gold by 8.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,308 shares of the company’s stock worth $419,000 after purchasing an additional 4,373 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of Centerra Gold in the third quarter valued at approximately $89,000. Finally, Verition Fund Management LLC bought a new stake in shares of Centerra Gold during the third quarter valued at approximately $206,000. 55.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Centerra Gold Stock Down 1.0 %

NYSE:CGAU opened at $6.35 on Monday. Centerra Gold Inc. has a 1-year low of $5.46 and a 1-year high of $7.82. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 17.63 and a beta of 0.92. The stock has a fifty day simple moving average of $6.17 and a 200 day simple moving average of $6.34.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. The firm had revenue of $302.40 million during the quarter, compared to analysts’ expectations of $316.92 million. Equities analysts predict that Centerra Gold Inc. will post 0.59 earnings per share for the current year.

Centerra Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $0.07 dividend. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.28 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend was Thursday, March 13th. Centerra Gold’s dividend payout ratio 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.