Donald Smith & CO. Inc. Has $49.63 Million Position in Centerra Gold Inc. (NYSE:CGAU)

Donald Smith & CO. Inc. lifted its stake in Centerra Gold Inc. (NYSE:CGAU) by 30.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,723,060 shares of the company’s stock after buying an additional 2,017,756 shares during the period. Donald Smith & CO. Inc. owned about 4.15% of Centerra Gold worth $49,634,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in shares of Centerra Gold in the fourth quarter valued at $59,000. Massachusetts Financial Services Co. MA acquired a new stake in Centerra Gold during the 4th quarter worth approximately $60,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Centerra Gold during the fourth quarter worth about $80,000. HighTower Advisors LLC bought a new position in Centerra Gold in the third quarter valued at $127,000. Finally, Entropy Technologies LP acquired a new position in shares of Centerra Gold during the 4th quarter worth approximately $177,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

Wall Street Analyst Weigh In

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

Centerra Gold Price Performance

Shares of NYSE CGAU opened at $6.28 on Thursday. The stock has a market capitalization of $1.32 billion, a PE ratio of 17.44 and a beta of 0.92. The business’s fifty day moving average price is $6.19 and its 200-day moving average price is $6.33. Centerra Gold Inc. has a one year low of $5.46 and a one year high of $7.82.

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

Centerra Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio (DPR) is 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.