Old West Investment Management LLC Purchases 200,000 Shares of Centerra Gold Inc. (NYSE:CGAU)

Old West Investment Management LLC raised its position in Centerra Gold Inc. (NYSE:CGAU - Free Report) by 100.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 400,000 shares of the company's stock after acquiring an additional 200,000 shares during the period. Old West Investment Management LLC owned approximately 0.19% of Centerra Gold worth $2,864,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC raised its holdings in shares of Centerra Gold by 594.6% in the 2nd quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company's stock worth $59,532,000 after acquiring an additional 7,586,370 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Centerra Gold by 158.9% in the second quarter. Bank of Montreal Can now owns 2,433,241 shares of the company's stock worth $16,881,000 after purchasing an additional 1,493,349 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Centerra Gold by 132.8% in the second quarter. American Century Companies Inc. now owns 1,835,673 shares of the company's stock valued at $12,345,000 after purchasing an additional 1,047,142 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Centerra Gold during the second quarter valued at approximately $6,772,000. Finally, Donald Smith & CO. Inc. grew its holdings in Centerra Gold by 8.8% during the first quarter. Donald Smith & CO. Inc. now owns 10,747,290 shares of the company's stock worth $63,516,000 after buying an additional 867,334 shares in the last quarter. Institutional investors own 55.40% of the company's stock.

Centerra Gold Trading Down 2.5 %

Shares of Centerra Gold stock traded down $0.16 on Wednesday, reaching $6.20. The stock had a trading volume of 939,725 shares, compared to its average volume of 637,451. The business's 50 day moving average is $7.05 and its two-hundred day moving average is $6.87. The company has a market cap of $1.31 billion, a P/E ratio of 12.98 and a beta of 0.98. Centerra Gold Inc. has a 1 year low of $4.47 and a 1 year high of $7.82.

Centerra Gold (NYSE:CGAU - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. The firm had revenue of $323.93 million during the quarter. During the same period last year, the firm posted $0.20 earnings per share. On average, equities analysts anticipate that Centerra Gold Inc. will post 0.84 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.052 per share. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Wednesday, November 13th. This is an increase from Centerra Gold's previous quarterly dividend of $0.05. Centerra Gold's dividend payout ratio (DPR) is 41.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CGAU shares. CIBC restated a "neutral" rating and set a $13.00 price objective (up from $11.00) on shares of Centerra Gold in a research note on Wednesday, July 10th. Cibc World Mkts cut shares of Centerra Gold from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 10th. Finally, Desjardins raised shares of Centerra Gold to a "moderate buy" rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Centerra Gold has a consensus rating of "Moderate Buy" and an average price target of $11.00.

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.