American Century Companies Inc. Acquires 1,324,448 Shares of Centerra Gold Inc. $CGAU

American Century Companies Inc. grew its stake in shares of Centerra Gold Inc. (NYSE:CGAU) by 32.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,379,277 shares of the company’s stock after buying an additional 1,324,448 shares during the period. American Century Companies Inc. owned 2.67% of Centerra Gold worth $57,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CGAU. TD Waterhouse Canada Inc. boosted its position in shares of Centerra Gold by 1,106.5% during the third quarter. TD Waterhouse Canada Inc. now owns 2,980 shares of the company’s stock worth $33,000 after acquiring an additional 2,733 shares during the last quarter. Osaic Holdings Inc. lifted its stake in Centerra Gold by 63.0% in the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock worth $34,000 after purchasing an additional 1,839 shares in the last quarter. State of Wyoming purchased a new stake in Centerra Gold in the 3rd quarter worth $90,000. Olympiad Research LP bought a new position in shares of Centerra Gold during the 2nd quarter valued at about $89,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Centerra Gold during the second quarter valued at about $97,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Centerra Gold Stock Performance

NYSE CGAU opened at $18.42 on Friday. The business’s 50 day moving average price is $17.52 and its 200-day moving average price is $13.38. Centerra Gold Inc. has a fifty-two week low of $5.41 and a fifty-two week high of $21.17. The company has a market cap of $3.68 billion, a P/E ratio of 6.49, a P/E/G ratio of 0.97 and a beta of 0.83. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.65 and a current ratio of 2.39.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Centerra Gold had a return on equity of 12.42% and a net margin of 42.18%.The company had revenue of $401.60 million during the quarter, compared to the consensus estimate of $355.39 million. Sell-side analysts predict that Centerra Gold Inc. will post 0.59 earnings per share for the current year.

Centerra Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. Centerra Gold’s payout ratio is currently 7.04%.

Wall Street Analysts Forecast Growth

CGAU has been the topic of several research reports. Scotiabank lifted their target price on Centerra Gold from $13.50 to $19.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Zacks Research upgraded Centerra Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. Wall Street Zen cut Centerra Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Centerra Gold in a research report on Monday, December 29th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Centerra Gold in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Centerra Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Centerra Gold Profile

Centerra Gold Inc is a gold mining company incorporated in Canada and headquartered in Toronto. The company specializes in the exploration, development and operation of precious metals properties, with a focus on gold production. Centerra’s portfolio includes the Mount Milligan mine in British Columbia, Canada, and the Otjikoto mine in Namibia. Both operations produce gold and copper concentrates and employ modern mining methods and processing facilities to optimize recovery rates and minimize environmental impact.

In addition to its producing assets, Centerra is advancing the development of its Greenstone Gold Project in Ontario, Canada, which, upon completion, is expected to become one of Canada’s largest gold mines.