Man Group plc Takes Position in Centerra Gold Inc. $CGAU

Key Points

• Man Group initiated a Centerra Gold position in the second quarter, purchasing 82,242 shares valued at approximately $1.3 million. Institutional investors and hedge funds collectively own 55.4% of the company.
• Analyst sentiment remains generally positive, with five Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of $17.50.
• Centerra Gold exceeded quarterly expectations, reporting $0.39 in EPS and $442.71 million in revenue. The company also pays a quarterly dividend of $0.07 per share, representing a 1.3% annualized yield.

Man Group plc bought a new stake in Centerra Gold Inc. (NYSE:CGAU - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 82,242 shares of the company's stock, valued at approximately $1,304,000.

A number of other institutional investors have also added to or reduced their stakes in CGAU. Donald Smith & CO. Inc. bought a new position in Centerra Gold during the second quarter valued at about $245,004,000. Goldman Sachs Group Inc. lifted its position in shares of Centerra Gold by 57.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company's stock worth $84,739,000 after acquiring an additional 4,853,494 shares during the period. Arrowstreet Capital Limited Partnership grew 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 worth $147,899,000 after purchasing an additional 39,315 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Centerra Gold by 15.3% during the 4th quarter. Van ECK Associates Corp now owns 6,536,157 shares of the company's stock worth $93,929,000 after purchasing an additional 866,977 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its position in shares of Centerra Gold by 62.9% during the fourth quarter. Hillsdale Investment Management Inc. now owns 3,513,875 shares of the company's stock valued at $50,678,000 after purchasing an additional 1,356,660 shares during the period. 55.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the company. Weiss Ratings raised Centerra Gold from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Centerra Gold in a report on Thursday, July 30th. Wall Street Zen cut shares of Centerra Gold from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Finally, Scotiabank reiterated an "outperform" rating on shares of Centerra Gold in a research report on Tuesday, August 4th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $17.50.

Centerra Gold Stock Performance

Shares of NYSE:CGAU opened at $22.26 on Thursday. The business's fifty day moving average price is $18.80 and its two-hundred day moving average price is $18.20. Centerra Gold Inc. has a fifty-two week low of $8.25 and a fifty-two week high of $24.52. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 7.11, a price-to-earnings-growth ratio of 0.81 and a beta of 0.86. 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 (NYSE:CGAU - Get Free Report) last released 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 return on equity of 15.35% and a net margin of 36.92%.The firm had revenue of $442.71 million during the quarter, compared to analyst estimates of $394.27 million. As a group, analysts predict that Centerra Gold Inc. will post 1.63 EPS for the current fiscal year.

Centerra Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were given a dividend of $0.07 per share. The ex-dividend date was 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 (DPR) is 6.39%.

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.

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