Arrowstreet Capital Limited Partnership Grows Stock Holdings in Centerra Gold Inc. $CGAU

Arrowstreet Capital Limited Partnership increased its stake in shares of Centerra Gold Inc. (NYSE:CGAU) by 0.5% in the 1st quarter, HoldingsChannel reports. The firm owned 8,314,250 shares of the company’s stock after buying an additional 39,315 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Centerra Gold were worth $147,899,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CGAU. Osaic Holdings Inc. grew its position in Centerra Gold by 63.0% during 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 during the period. Global Retirement Partners LLC acquired a new position in shares of Centerra Gold during the fourth quarter worth $36,000. Leonteq Securities AG purchased a new position in Centerra Gold in the 4th quarter valued at about $72,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Centerra Gold during the first quarter worth approximately $97,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in Centerra Gold in the fourth quarter valued at about $100,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Analysts Set New Price Targets

CGAU has been the topic of several research analyst reports. Wall Street Zen cut shares of Centerra Gold from a “buy” rating to a “hold” rating in a research note on Saturday. Scotiabank restated an “outperform” rating on shares of Centerra Gold in a report on Tuesday, July 7th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.50.

Centerra Gold Price Performance

NYSE:CGAU opened at $16.21 on Friday. The firm has a fifty day simple moving average of $16.29 and a 200 day simple moving average of $17.46. 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 has a market capitalization of $3.21 billion, a PE ratio of 5.23, a P/E/G ratio of 0.61 and a beta of 0.81. Centerra Gold Inc. has a 1-year low of $6.71 and a 1-year high of $21.17.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Centerra Gold had a net margin of 40.32% and a return on equity of 14.90%. The company had revenue of $484.70 million during the quarter, compared to the consensus estimate of $373.47 million. On average, research analysts expect that Centerra Gold Inc. will post 1.61 EPS for the current fiscal year.

Centerra Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Thursday, May 21st. Centerra Gold’s dividend payout ratio is 6.77%.

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.