Arrowstreet Capital Limited Partnership Raises Stock Position in Centerra Gold Inc. $CGAU

Arrowstreet Capital Limited Partnership raised its position in shares of Centerra Gold Inc. (NYSE:CGAU) by 0.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,314,250 shares of the company’s stock after purchasing an additional 39,315 shares during the quarter. Arrowstreet Capital Limited Partnership owned 4.16% of Centerra Gold worth $147,899,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CGAU. Osaic Holdings Inc. lifted its position in shares of Centerra Gold by 63.0% in the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock valued at $34,000 after acquiring an additional 1,839 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Centerra Gold during the fourth quarter worth about $36,000. Leonteq Securities AG bought a new stake in Centerra Gold during the 4th quarter valued at approximately $72,000. Dynamic Technology Lab Private Ltd bought a new stake in Centerra Gold during the 1st quarter valued at approximately $97,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in Centerra Gold in the 4th quarter worth approximately $100,000. 55.40% of the stock is currently owned by institutional investors.

Centerra Gold Stock Down 0.5%

NYSE:CGAU opened at $16.21 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.60. The company has a 50-day moving average of $16.29 and a 200 day moving average of $17.46. Centerra Gold Inc. has a 1-year low of $6.71 and a 1-year high of $21.17. The firm has a market cap of $3.21 billion, a PE ratio of 5.23, a price-to-earnings-growth ratio of 0.61 and a beta of 0.81.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. Centerra Gold had a net margin of 40.32% and a return on equity of 14.90%. The firm had revenue of $484.70 million for the quarter, compared to the consensus estimate of $373.47 million. As a group, research analysts anticipate that Centerra Gold Inc. will post 1.61 EPS for the current fiscal year.

Centerra Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.7%. The ex-dividend date was Thursday, May 21st. Centerra Gold’s dividend payout ratio (DPR) is presently 6.77%.

Wall Street Analysts Forecast Growth

CGAU has been the subject of a number of research analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Tuesday, July 7th. Wall Street Zen lowered shares of Centerra Gold from a “buy” rating to a “hold” rating in a research report on Saturday. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.50.

About Centerra Gold

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.