Allianz Asset Management GmbH Invests $1.20 Million in Centerra Gold Inc. $CGAU

Allianz Asset Management GmbH acquired a new position in Centerra Gold Inc. (NYSE:CGAU) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 166,097 shares of the company’s stock, valued at approximately $1,196,000. Allianz Asset Management GmbH owned 0.08% of Centerra Gold at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CWM LLC raised its holdings in shares of Centerra Gold by 15.6% during the 2nd quarter. CWM LLC now owns 14,480 shares of the company’s stock valued at $104,000 after buying an additional 1,955 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Centerra Gold by 4.7% during the 1st quarter. Hsbc Holdings PLC now owns 55,268 shares of the company’s stock valued at $351,000 after buying an additional 2,499 shares during the period. Farther Finance Advisors LLC purchased a new stake in shares of Centerra Gold during the 2nd quarter valued at about $27,000. Northwest & Ethical Investments L.P. raised its holdings in shares of Centerra Gold by 29.1% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 19,488 shares of the company’s stock valued at $124,000 after buying an additional 4,398 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Centerra Gold by 43.0% during the 1st quarter. Bank of New York Mellon Corp now owns 20,183 shares of the company’s stock valued at $128,000 after buying an additional 6,071 shares during the period. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. CIBC reiterated an “outperform” rating on shares of Centerra Gold in a report on Tuesday, July 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Centerra Gold in a report on Friday. Wall Street Zen upgraded Centerra Gold from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Raymond James Financial lowered Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Friday, October 10th. Finally, Royal Bank Of Canada lowered Centerra Gold from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $13.00 to $14.00 in a research note on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Centerra Gold currently has an average rating of “Moderate Buy” and an average target price of $14.17.

Centerra Gold Trading Down 1.3%

Shares of CGAU opened at $11.14 on Monday. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 33.74, a PEG ratio of 0.72 and a beta of 0.88. The stock has a 50 day moving average of $9.77 and a 200-day moving average of $8.00. Centerra Gold Inc. has a 52 week low of $5.41 and a 52 week high of $12.80.

Centerra Gold (NYSE:CGAU) last issued its earnings results on Wednesday, August 6th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.17 by $0.08. The company had revenue of $288.30 million during the quarter, compared to analyst estimates of $319.42 million. Centerra Gold had a return on equity of 9.12% and a net margin of 6.21%. On average, sell-side analysts predict that Centerra Gold Inc. will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were given a $0.07 dividend. The ex-dividend date was Thursday, August 21st. This represents a $0.28 annualized dividend and a dividend yield of 2.5%. Centerra Gold’s dividend payout ratio (DPR) is presently 60.61%.

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.