Alberta Investment Management Corp Acquires New Holdings in Centerra Gold Inc. $CGAU

Key Points

• Alberta Investment Management Corp. acquired 53,586 shares of Centerra Gold in the second quarter, valued at approximately $849,000. Institutional investors and hedge funds collectively own 55.4% of the company.
• Centerra Gold reported quarterly EPS of $0.39, slightly above estimates, while revenue of $442.71 million exceeded expectations of $394.27 million.
• The company declared a quarterly dividend of $0.07 per share, equivalent to an annualized dividend of $0.28 and a 1.3% yield. Analysts maintain a “Moderate Buy” consensus, though the $17.50 average target is below the stock’s reported $21.95 price.

Alberta Investment Management Corp bought a new stake in Centerra Gold Inc. (NYSE:CGAU - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 53,586 shares of the company's stock, valued at approximately $849,000.

Other hedge funds also recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new position in Centerra Gold in the fourth quarter valued at about $36,000. Osaic Holdings Inc. raised its position in shares of Centerra Gold by 63.0% during the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company's stock worth $34,000 after purchasing an additional 1,839 shares during the period. Leonteq Securities AG bought a new position in shares of Centerra Gold during the 4th quarter valued at about $72,000. C M Bidwell & Associates Ltd. bought a new position in shares of Centerra Gold during the 4th quarter valued at about $100,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Centerra Gold in the 4th quarter valued at approximately $115,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Centerra Gold Price Performance

Shares of NYSE CGAU opened at $21.95 on Tuesday. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 7.01, a PEG ratio of 0.80 and a beta of 0.80. The business has a 50-day moving average of $17.16 and a 200-day moving average of $17.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.42 and a quick ratio of 1.49. Centerra Gold Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $22.30.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The firm had revenue of $442.71 million during the quarter, compared to analysts' expectations of $394.27 million. Centerra Gold had a return on equity of 15.35% and a net margin of 36.92%. As a group, sell-side analysts predict that Centerra Gold Inc. will post 1.63 earnings per share for the current fiscal year.

Centerra Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. Centerra Gold's dividend payout ratio is currently 6.71%.

Wall Street Analysts Forecast Growth

CGAU has been the subject of a number of research reports. Wall Street Zen cut Centerra Gold from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Scotiabank reiterated an "outperform" rating on shares of Centerra Gold in a report on Tuesday, August 4th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Centerra Gold in a research report on Thursday, July 30th. Finally, Weiss Ratings lowered shares of Centerra Gold from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 28th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $17.50.

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.

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