Centerra Gold Inc. $CGAU Stock Holdings Decreased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management reduced its Centerra Gold stake by 25.6% in the third quarter, selling 49,043 shares and retaining 142,449 shares valued at approximately $3.1 million. Institutional investors collectively own 55.4% of the company.
• Centerra Gold reported quarterly EPS of $0.39, exceeding estimates by $0.01, while revenue of $442.7 million surpassed the $394.3 million consensus forecast. Analysts expect full-year EPS of $1.56.
• The company maintains a “Moderate Buy” consensus rating, with five Buy, one Hold and one Sell rating; the average price target is $21.00 versus a recent share price of $22.03. Centerra also pays a quarterly dividend of C$0.07, yielding about 1.3%.

Assenagon Asset Management S.A. cut its holdings in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) by 25.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,449 shares of the company's stock after selling 49,043 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.07% of Centerra Gold worth $3,113,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Donald Smith & CO. Inc. purchased a new stake in Centerra Gold during the 2nd quarter valued at approximately $245,004,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Centerra Gold by 0.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,314,250 shares of the company's stock valued at $147,899,000 after purchasing an additional 39,315 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Centerra Gold during the second quarter valued at about $37,142,000. Heartland Advisors Inc. grew its position in shares of Centerra Gold by 0.7% during the first quarter. Heartland Advisors Inc. now owns 2,216,216 shares of the company's stock valued at $39,426,000 after purchasing an additional 14,766 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC bought a new stake in shares of Centerra Gold in the second quarter worth about $32,524,070. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Centerra Gold Stock Performance

Shares of NYSE:CGAU opened at $22.03 on Thursday. The company has a current ratio of 2.42, a quick ratio of 1.49 and a debt-to-equity ratio of 0.03. Centerra Gold Inc. has a 12 month low of $10.46 and a 12 month high of $24.52. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 7.04, a PEG ratio of 2.01 and a beta of 0.84. The firm's 50-day moving average is $22.42 and its 200 day moving average is $19.17.

Centerra Gold (NYSE:CGAU - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.39 earnings per share (EPS) for the quarter, topping 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 business had revenue of $442.71 million during the quarter, compared to the consensus estimate of $394.27 million. Research analysts predict that Centerra Gold Inc. will post 1.56 EPS for the current year.

Centerra Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were paid a C$0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Wednesday, August 19th. Centerra Gold's dividend payout ratio is currently 6.39%.

Analysts Set New Price Targets

CGAU has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of Centerra Gold from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Zacks Research downgraded shares of Centerra Gold from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 6th. Weiss Ratings upgraded Centerra Gold from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 31st. Scotiabank reiterated an "outperform" rating on shares of Centerra Gold in a report on Tuesday, August 4th. Finally, Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Centerra Gold in a research report on Friday, October 16th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $21.00.

Centerra Gold Profile

Centerra Gold Inc is a Canadian-based mining company focused on the acquisition, exploration, development and operation of gold and copper properties. The company produces gold doré and copper-gold concentrate from its operating mines and manages related processing, infrastructure and exploration activities.

Centerra's principal assets include the Mount Milligan copper-gold mine in British Columbia, Canada, and the Öksüt gold mine in Türkiye. The company also owns the Kemess project in British Columbia, which is being advanced as a potential copper-gold development project.

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