Mirae Asset Global Investments Co. Ltd. Lowers Stock Holdings in Centerra Gold Inc. (NYSE:CGAU)

Mirae Asset Global Investments Co. Ltd. lessened its stake in Centerra Gold Inc. (NYSE:CGAU) by 9.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 162,169 shares of the company’s stock after selling 17,877 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.08% of Centerra Gold worth $973,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CGAU. Versor Investments LP acquired a new position in shares of Centerra Gold in the third quarter valued at approximately $52,000. Heron Bay Capital Management purchased a new stake in Centerra Gold in the 4th quarter valued at approximately $77,000. Hsbc Holdings PLC increased its position in Centerra Gold by 134.2% during the 3rd quarter. Hsbc Holdings PLC now owns 35,587 shares of the company’s stock worth $174,000 after purchasing an additional 20,389 shares during the period. Insigneo Advisory Services LLC acquired a new stake in shares of Centerra Gold in the 3rd quarter valued at approximately $223,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Centerra Gold in the third quarter valued at approximately $225,000. 55.40% of the stock is owned by hedge funds and other institutional investors.

Centerra Gold Price Performance

CGAU opened at $6.34 on Wednesday. Centerra Gold Inc. has a 12 month low of $4.47 and a 12 month high of $7.23. The business has a 50-day moving average of $5.66 and a two-hundred day moving average of $5.56. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -17.13 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last released its earnings results on Thursday, February 22nd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate 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. Equities research analysts anticipate that Centerra Gold Inc. will post 0.51 earnings per share for the current year.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were paid a dividend of $0.0518 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 annualized dividend and a dividend yield of 3.27%. Centerra Gold’s payout ratio is currently -43.24%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. National Bank Financial reissued an “outperform overweight” rating on shares of Centerra Gold in a research note on Monday, April 8th. Raymond James reduced their price objective on Centerra Gold from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday, December 29th. BMO Capital Markets assumed coverage on Centerra Gold in a research report on Wednesday, February 21st. They set an “outperform” rating for the company. Finally, CIBC raised their price target on shares of Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a research note on Monday, April 15th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Centerra Gold currently has a consensus rating of “Buy” and a consensus target price of $9.78.

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.