Ashton Thomas Private Wealth LLC Takes Position in Centerra Gold Inc. (NYSE:CGAU)

Ashton Thomas Private Wealth LLC has recently made a significant investment by acquiring a new stake in Centerra Gold Inc. (NYSE:CGAU) during the fourth quarter. According to the latest Form 13F filing with the Securities and Exchange Commission (SEC), the firm has purchased 45,394 shares of Centerra Gold, which is valued at approximately $258,000.

In addition to Ashton Thomas Private Wealth, several other hedge funds have also made adjustments to their holdings in Centerra Gold. For instance, Versor Investments LP has increased its position by 40.9%, now owning 146,700 shares valued at about $1,053,000 after acquiring an additional 42,600 shares in the previous quarter. Similarly, Plato Investment Management Ltd entered the market with a new stake in Centerra Gold worth $412,000.

PCJ Investment Counsel Ltd. has also expanded its holdings by 59.6%, bringing its total to 434,628 shares valued at approximately $3,120,000 after purchasing an extra 162,382 shares last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake by 36.5%, now holding 4,390,005 shares with a value of $31,514,000, following an addition of 1,175,000 shares. Likewise, Bank of Montreal Can increased its stake by 59.0%, totaling 3,869,035 shares valued at around $28,690,000 after purchasing an extra 1,435,794 shares. Overall, hedge funds and other institutional investors control about 55.40% of the stock.

Recent Analyst Ratings

Research analysts have recently provided updates regarding Centerra Gold's stock. Cormark downgraded their rating from "moderate buy" to "hold" on February 26th. Similarly, Desjardins also downgraded their rating to "hold" on February 13th. Additionally, Scotiabank lowered the price target from $10.00 to $9.00, maintaining a "sector outperform" rating on January 15th. Currently, four research analysts rate the stock as a hold, while one analyst suggests a buy. Data from MarketBeat shows that the consensus rating for Centerra Gold is "Hold" with a price target of $11.00.

Stock Performance of Centerra Gold

Centerra Gold's stock opened at $5.66 on Wednesday. The company has experienced a twelve-month low of $5.46 and a high of $7.82. Its 50-day and 200-day moving averages are $6.09 and $6.41, respectively. With a market capitalization of $1.19 billion, Centerra Gold has a PE ratio of 15.71 and a beta of 0.92.

On February 20th, Centerra Gold reported its quarterly earnings, posting $0.17 earnings per share, which fell short of the consensus expectation of $0.20 by $0.03. The company's return on equity stands at 8.83%, with a net margin of 6.62%. Reported revenue was $302.40 million, lower than the analyst estimates of $316.92 million. Analysts expect that the company will deliver 0.59 earnings per share for the current year.

Dividend Announcement

Recently, Centerra Gold has revealed plans for a quarterly dividend to be distributed on March 27th. Shareholders of record by March 13th will receive a dividend of $0.07 per share, amounting to an annualized dividend of $0.28, which translates to a yield of 4.95%. This is an increase from the prior dividend of $0.05. Currently, Centerra Gold's dividend payout ratio is 52.78%.

About Centerra Gold

Centerra Gold Inc. is primarily involved in the acquisition, exploration, development, and operation of gold and copper mining properties in North America, Turkey, and other regions. The company focuses on finding gold, copper, and molybdenum deposits. Its flagship projects include the fully-owned Mount Milligan gold-copper mine located in British Columbia, Canada, and the Öksüt gold mine in Turkey.

Other Information

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