Donald Smith & CO. Inc. Acquires 2,156,920 Shares of Centerra Gold Inc. (NYSE:CGAU)

Donald Smith & CO. Inc. boosted its stake in shares of Centerra Gold Inc. (NYSE:CGAU) by 27.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,879,956 shares of the company’s stock after buying an additional 2,156,920 shares during the period. Centerra Gold accounts for about 1.5% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 29th biggest holding. Donald Smith & CO. Inc. owned approximately 4.58% of Centerra Gold worth $58,885,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Russell Investments Group Ltd. raised its position in shares of Centerra Gold by 943.8% in the 4th quarter. Russell Investments Group Ltd. now owns 65,020 shares of the company’s stock worth $390,000 after acquiring an additional 58,791 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Centerra Gold in the fourth quarter worth about $9,540,000. U S Global Investors Inc. lifted its position in shares of Centerra Gold by 22.8% during the fourth quarter. U S Global Investors Inc. now owns 788,003 shares of the company’s stock valued at $4,707,000 after buying an additional 146,355 shares during the last quarter. Heron Bay Capital Management bought a new stake in shares of Centerra Gold in the 4th quarter valued at about $77,000. Finally, Vanguard Group Inc. grew its position in shares of Centerra Gold by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 8,031,893 shares of the company’s stock worth $39,356,000 after buying an additional 220,263 shares during the last quarter. Institutional investors own 55.40% of the company’s stock.

Wall Street Analyst Weigh In

CGAU has been the subject of several recent analyst reports. BMO Capital Markets initiated coverage on shares of Centerra Gold in a research note on Wednesday, February 21st. They issued an “outperform” rating for the company. CIBC raised their price objective on Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a research report on Monday, April 15th. Finally, National Bank Financial reaffirmed an “outperform overweight” rating on shares of Centerra Gold in a research report on Monday, April 8th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $9.78.

Centerra Gold Price Performance

Shares of NYSE CGAU traded down $0.07 during mid-day trading on Monday, hitting $6.29. The stock had a trading volume of 351,390 shares, compared to its average volume of 412,051. The company has a 50 day moving average of $5.73 and a two-hundred day moving average of $5.59. Centerra Gold Inc. has a twelve month low of $4.47 and a twelve month high of $7.08.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). Centerra Gold had a negative net margin of 7.43% and a positive return on equity of 0.62%. The firm had revenue of $340.00 million during the quarter. As a group, equities research analysts forecast that Centerra Gold Inc. will post 0.55 earnings per share for the current year.

Centerra Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 13th were paid a dividend of $0.0518 per share. This represents a $0.21 annualized dividend and a yield of 3.29%. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, March 12th. Centerra Gold’s payout ratio is presently -43.24%.

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.