Arrowstreet Capital Limited Partnership Buys 549,491 Shares of Centerra Gold Inc. $CGAU

Arrowstreet Capital Limited Partnership boosted its stake in Centerra Gold Inc. (NYSE:CGAU) by 7.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,274,935 shares of the company’s stock after buying an additional 549,491 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Centerra Gold were worth $119,058,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CGAU. Kestra Advisory Services LLC bought a new stake in shares of Centerra Gold in the 4th quarter worth $115,000. Marshall Wace LLP bought a new position in shares of Centerra Gold during the fourth quarter valued at about $7,440,000. The Manufacturers Life Insurance Company boosted its holdings in Centerra Gold by 5.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 796,734 shares of the company’s stock worth $11,494,000 after purchasing an additional 43,871 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new position in Centerra Gold during the fourth quarter worth about $100,000. Finally, Public Sector Pension Investment Board grew its position in Centerra Gold by 401.9% in the 4th quarter. Public Sector Pension Investment Board now owns 76,208 shares of the company’s stock worth $1,097,000 after purchasing an additional 61,024 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Centerra Gold in a research note on Friday, March 27th. Zacks Research lowered Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Scotiabank increased their price target on Centerra Gold from $19.00 to $21.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Finally, Wall Street Zen lowered Centerra Gold from a “buy” rating to a “hold” rating in a report on Saturday. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.67.

Centerra Gold Stock Performance

NYSE CGAU opened at $16.95 on Tuesday. The firm has a market cap of $3.37 billion, a P/E ratio of 5.47, a price-to-earnings-growth ratio of 0.77 and a beta of 0.79. The company has a quick ratio of 1.60, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $17.73 and its 200-day moving average is $17.04. Centerra Gold Inc. has a 12-month low of $6.71 and a 12-month high of $21.17.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.44 EPS for the quarter, topping 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 company had revenue of $484.70 million during the quarter, compared to the consensus estimate of $373.47 million. Sell-side analysts predict that Centerra Gold Inc. will post 1.79 earnings per share for the current year.

Centerra Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders 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 1.7%. Centerra Gold’s dividend payout ratio is currently 6.77%.

Centerra Gold Company 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.