Assenagon Asset Management S.A. Invests $3.06 Million in Centerra Gold Inc. $CGAU

Assenagon Asset Management S.A. purchased a new position in Centerra Gold Inc. (NYSE:CGAU) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 173,231 shares of the company’s stock, valued at approximately $3,062,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CGAU. Burkett Financial Services LLC bought a new position in Centerra Gold during the 3rd quarter worth approximately $30,000. Osaic Holdings Inc. raised its position in shares of Centerra Gold by 63.0% during the 2nd 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 acquired a new stake in shares of Centerra Gold during the 4th quarter valued at approximately $36,000. Leonteq Securities AG bought a new position in Centerra Gold during the fourth quarter worth $72,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Centerra Gold during the first quarter worth $97,000. 55.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on CGAU shares. Scotiabank boosted their target price on shares of Centerra Gold from $19.00 to $21.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Centerra Gold in a research report on Friday, March 27th. Wall Street Zen raised shares of Centerra Gold from a “hold” rating to a “buy” rating in a report on Sunday, June 21st. Finally, Zacks Research downgraded shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.67.

Centerra Gold Trading Down 1.8%

Shares of NYSE CGAU opened at $15.86 on Wednesday. Centerra Gold Inc. has a 12-month low of $6.71 and a 12-month high of $21.17. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 5.12, a price-to-earnings-growth ratio of 0.77 and a beta of 0.79. The company has a current ratio of 2.41, a quick ratio of 1.60 and a debt-to-equity ratio of 0.06. The stock’s 50 day simple moving average is $17.12 and its 200 day simple moving average is $17.28.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Centerra Gold had a return on equity of 14.90% and a net margin of 40.32%.The firm had revenue of $484.70 million during the quarter, compared to the consensus estimate of $373.47 million. Equities research analysts expect that Centerra Gold Inc. will post 1.79 EPS for the current year.

Centerra Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a dividend of $0.07 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.28 annualized dividend and a dividend yield of 1.8%. Centerra Gold’s dividend payout ratio is currently 6.77%.

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.