Acadian Asset Management LLC Has $42.67 Million Position in Centerra Gold Inc. $CGAU

Key Points

• Acadian Asset Management LLC reduced its stake in Centerra Gold by 21.9%, holding approximately 3.21% of the company, valued at $42.67 million.
• Centerra Gold reported $0.25 EPS for the latest quarter, exceeding estimates, but had a revenue of $288.30 million, falling short of projections.
• The company announced a quarterly dividend of $0.07 per share, with an annualized yield of 3.1% and a payout ratio of 60.61%.

Acadian Asset Management LLC lowered its position in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) by 21.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,732,151 shares of the company's stock after selling 1,887,405 shares during the quarter. Acadian Asset Management LLC owned approximately 3.21% of Centerra Gold worth $42,670,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC raised its position in shares of Centerra Gold by 0.3% during the fourth quarter. Millennium Management LLC now owns 585,238 shares of the company's stock worth $3,330,000 after acquiring an additional 1,663 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Centerra Gold by 4.7% during the first quarter. Hsbc Holdings PLC now owns 55,268 shares of the company's stock worth $351,000 after acquiring an additional 2,499 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Centerra Gold by 8.8% during the fourth quarter. Toronto Dominion Bank now owns 36,901 shares of the company's stock worth $210,000 after acquiring an additional 2,980 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Centerra Gold by 2.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 181,755 shares of the company's stock worth $1,036,000 after acquiring an additional 3,608 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. raised its position in shares of Centerra Gold by 29.1% during the first quarter. Northwest & Ethical Investments L.P. now owns 19,488 shares of the company's stock worth $124,000 after acquiring an additional 4,398 shares during the last quarter. Institutional investors own 55.40% of the company's stock.

Centerra Gold Trading Up 1.2%

NYSE CGAU opened at $8.96 on Thursday. The stock has a 50-day simple moving average of $7.52 and a 200 day simple moving average of $6.92. The company has a market capitalization of $1.81 billion, a PE ratio of 27.14, a P/E/G ratio of 0.67 and a beta of 0.82. Centerra Gold Inc. has a 12 month low of $5.41 and a 12 month high of $9.01.

Centerra Gold (NYSE:CGAU - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.08. The business had revenue of $288.30 million during the quarter, compared to the consensus estimate of $319.42 million. Centerra Gold had a return on equity of 9.12% and a net margin of 6.21%. As a group, sell-side analysts predict that Centerra Gold Inc. will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, August 21st. Centerra Gold's payout ratio is presently 60.61%.

Wall Street Analyst Weigh In

CGAU has been the subject of a number of recent research reports. BMO Capital Markets downgraded Centerra Gold from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 8th. Cibc World Mkts upgraded Centerra Gold from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 27th. Royal Bank Of Canada downgraded Centerra Gold from an "outperform" rating to a "sector perform" rating and boosted their target price for the stock from $13.00 to $14.00 in a research report on Wednesday. CIBC reiterated an "outperform" rating on shares of Centerra Gold in a report on Tuesday, July 15th. Finally, Wall Street Zen upgraded Centerra Gold from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Centerra Gold has an average rating of "Moderate Buy" and an average price target of $13.33.

About Centerra Gold

Centerra Gold Inc, a gold mining company, engages in the acquisition, exploration, development, and operation of gold and copper properties in North America, Turkey, and internationally. The company explores for gold, copper, and molybdenum deposits. Its flagship projects are the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt gold mine located in Turkey.

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