Connor Clark & Lunn Investment Management Ltd. bought a new position in Centerra Gold Inc. (NYSE:CGAU - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,344,544 shares of the company's stock, valued at approximately $37,142,000. Connor Clark & Lunn Investment Management Ltd. owned about 1.20% of Centerra Gold at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Osaic Holdings Inc. increased its holdings 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 purchasing an additional 1,839 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Centerra Gold during the 4th quarter worth $36,000. Pinnacle Holdings LLC acquired a new position in Centerra Gold during the 2nd quarter worth $45,000. Leonteq Securities AG bought a new position in Centerra Gold in the 4th quarter valued at $72,000. Finally, C M Bidwell & Associates Ltd. bought a new position in Centerra Gold in the 2nd quarter valued at $83,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have recently weighed in on CGAU. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Centerra Gold in a research report on Thursday, July 30th. Weiss Ratings cut Centerra Gold from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 28th. Wall Street Zen lowered Centerra Gold from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, Scotiabank reissued an "outperform" rating on shares of Centerra Gold in a report on Tuesday, August 4th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $17.50.
Get Our Latest Analysis on CGAU
Centerra Gold Stock Performance
CGAU stock opened at $23.48 on Tuesday. The business's fifty day moving average is $17.88 and its 200-day moving average is $17.95. The company has a quick ratio of 1.49, a current ratio of 2.42 and a debt-to-equity ratio of 0.03. The company has a market cap of $4.61 billion, a P/E ratio of 7.50, a price-to-earnings-growth ratio of 0.89 and a beta of 0.80. Centerra Gold Inc. has a twelve month low of $7.64 and a twelve month high of $24.32.
Centerra Gold (NYSE:CGAU - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. Centerra Gold had a net margin of 36.92% and a return on equity of 15.35%. The company had revenue of $442.71 million during the quarter, compared to analyst estimates of $394.27 million. Equities research analysts forecast that Centerra Gold Inc. will post 1.63 EPS for the current year.
Centerra Gold Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, August 19th. Centerra Gold's payout ratio is presently 6.39%.
Centerra Gold Company Profile
(
Free Report)
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.
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