U S Global Investors Inc. Makes New Investment in Centerra Gold Inc. (NYSE:CGAU)

U S Global Investors Inc. acquired a new stake in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 644,721 shares of the company's stock, valued at approximately $3,667,000. U S Global Investors Inc. owned approximately 0.31% of Centerra Gold as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CGAU. Connor Clark & Lunn Investment Management Ltd. raised its position in Centerra Gold by 36.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company's stock valued at $31,514,000 after acquiring an additional 1,175,000 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Centerra Gold by 59.0% in the 3rd quarter. Bank of Montreal Can now owns 3,869,035 shares of the company's stock valued at $28,690,000 after purchasing an additional 1,435,794 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Centerra Gold in the third quarter worth $4,454,000. National Bank of Canada FI increased its position in Centerra Gold by 17.9% during the third quarter. National Bank of Canada FI now owns 608,701 shares of the company's stock worth $4,368,000 after buying an additional 92,255 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Centerra Gold by 131.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 588,681 shares of the company's stock worth $3,346,000 after buying an additional 334,719 shares during the last quarter. Institutional investors and hedge funds own 55.40% of the company's stock.

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Analysts Set New Price Targets

Several analysts have recently issued reports on CGAU shares. Cormark downgraded Centerra Gold from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Desjardins downgraded Centerra Gold from a "moderate buy" rating to a "hold" rating in a report on Thursday, February 13th. Finally, 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 note on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Centerra Gold currently has a consensus rating of "Hold" and a consensus target price of $11.00.

Centerra Gold Price Performance

Shares of Centerra Gold stock traded up $0.02 during midday trading on Tuesday, hitting $5.71. 624,327 shares of the company were exchanged, compared to its average volume of 762,694. The firm has a 50 day simple moving average of $6.08 and a 200-day simple moving average of $6.47. The firm has a market cap of $1.20 billion, a P/E ratio of 15.85 and a beta of 0.91. Centerra Gold Inc. has a 52 week low of $5.30 and a 52 week high of $7.82.

Centerra Gold (NYSE:CGAU - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.03). Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. The business had revenue of $302.40 million for the quarter, compared to analyst estimates of $316.92 million. Equities research analysts expect that Centerra Gold Inc. will post 0.59 earnings per share for the current year.

Centerra Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 4.91%. This is a positive change from Centerra Gold's previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Thursday, March 13th. Centerra Gold's dividend payout ratio (DPR) is presently 52.78%.

Centerra Gold 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.