Acadian Asset Management LLC Boosts Position in Centerra Gold Inc. $CGAU

Acadian Asset Management LLC raised its holdings in shares of Centerra Gold Inc. (NYSE:CGAU) by 26.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,494,055 shares of the company’s stock after acquiring an additional 1,761,904 shares during the quarter. Acadian Asset Management LLC owned approximately 4.16% of Centerra Gold worth $61,027,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CGAU. Bank of New York Mellon Corp grew its stake in Centerra Gold by 43.0% in the 1st quarter. Bank of New York Mellon Corp now owns 20,183 shares of the company’s stock worth $128,000 after acquiring an additional 6,071 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Centerra Gold by 74.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 18,488 shares of the company’s stock valued at $117,000 after buying an additional 7,895 shares during the last quarter. AMH Equity Ltd acquired a new stake in shares of Centerra Gold in the 1st quarter valued at about $902,000. Y Intercept Hong Kong Ltd bought a new stake in Centerra Gold during the first quarter valued at $535,000. Finally, TD Asset Management Inc grew its stake in Centerra Gold by 52.1% during the 1st quarter. TD Asset Management Inc now owns 1,148,338 shares of the company’s stock worth $7,285,000 after buying an additional 393,122 shares during the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

Analyst Ratings Changes

CGAU has been the subject of several research analyst reports. Royal Bank Of Canada lowered Centerra Gold from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $13.00 to $14.00 in a report on Wednesday, September 10th. Wall Street Zen upgraded shares of Centerra Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Raymond James Financial reiterated a “market perform” rating on shares of Centerra Gold in a report on Thursday, October 30th. Weiss Ratings upgraded Centerra Gold from a “hold (c)” rating to a “buy (b)” rating in a report on Friday. Finally, Scotiabank reissued an “outperform” rating on shares of Centerra Gold in a research note on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.17.

Centerra Gold Price Performance

Shares of CGAU stock opened at $11.40 on Monday. Centerra Gold Inc. has a 52 week low of $5.41 and a 52 week high of $12.80. The stock’s fifty day moving average is $10.52 and its 200-day moving average is $8.33. The stock has a market capitalization of $2.30 billion, a PE ratio of 6.95, a PEG ratio of 0.62 and a beta of 0.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.59 and a current ratio of 2.89.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. The company had revenue of $395.20 million during the quarter, compared to analysts’ expectations of $314.74 million. Centerra Gold had a net margin of 26.35% and a return on equity of 10.47%. Equities research analysts expect that Centerra Gold Inc. will post 0.59 EPS for the current fiscal year.

Centerra Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.28 annualized dividend and a yield of 2.5%. Centerra Gold’s payout ratio is 11.59%.

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.