Helikon Investments Ltd Has $19 Million Holdings in Centerra Gold Inc. (NYSE:CGAU)

Helikon Investments Ltd lessened its stake in shares of Centerra Gold Inc. (NYSE:CGAU) by 43.3% during the first quarter, Holdings Channel.com reports. The fund owned 3,215,352 shares of the company’s stock after selling 2,455,052 shares during the period. Centerra Gold comprises 1.6% of Helikon Investments Ltd’s investment portfolio, making the stock its 9th largest position. Helikon Investments Ltd’s holdings in Centerra Gold were worth $19,003,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Heron Bay Capital Management bought a new stake in Centerra Gold during the fourth quarter worth $77,000. Dynamic Technology Lab Private Ltd bought a new position in Centerra Gold in the fourth quarter valued at about $98,000. Hsbc Holdings PLC lifted its holdings in shares of Centerra Gold by 134.2% in the third quarter. Hsbc Holdings PLC now owns 35,587 shares of the company’s stock worth $174,000 after acquiring an additional 20,389 shares during the last quarter. Insigneo Advisory Services LLC acquired a new stake in shares of Centerra Gold in the 3rd quarter valued at approximately $223,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Centerra Gold by 943.8% during the 4th quarter. Russell Investments Group Ltd. now owns 65,020 shares of the company’s stock valued at $390,000 after purchasing an additional 58,791 shares during the last quarter. 55.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CGAU has been the topic of a number of research analyst reports. National Bank Financial restated an “outperform overweight” rating on shares of Centerra Gold in a research report on Monday, April 8th. Scotiabank boosted their price objective on Centerra Gold from $8.00 to $9.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 23rd. Finally, CIBC increased their target price on Centerra Gold from $9.50 to $11.00 and gave the company an “outperformer” rating in a research report on Monday, April 15th. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $9.30.

Centerra Gold Price Performance

NYSE CGAU traded up $0.08 on Tuesday, reaching $6.74. The company had a trading volume of 582,616 shares, compared to its average volume of 474,430. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 24.94 and a beta of 0.98. Centerra Gold Inc. has a fifty-two week low of $4.47 and a fifty-two week high of $7.51. The business has a 50 day moving average of $6.74 and a two-hundred day moving average of $6.01.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Tuesday, May 14th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Centerra Gold had a net margin of 4.99% and a return on equity of 5.58%. The company had revenue of $305.88 million during the quarter. During the same quarter in the previous year, the firm earned ($0.24) EPS. As a group, research analysts predict that Centerra Gold Inc. will post 0.78 earnings per share for the current fiscal year.

Centerra Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 29th were given a dividend of $0.051 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.20 dividend on an annualized basis and a yield of 3.03%. Centerra Gold’s dividend payout ratio (DPR) is currently 74.07%.

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.