Capstone Investment Advisors LLC Makes New $89,000 Investment in Centerra Gold Inc. (NYSE:CGAU)

Capstone Investment Advisors LLC acquired a new stake in Centerra Gold Inc. (NYSE:CGAU) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,449 shares of the company’s stock, valued at approximately $89,000.

Several other institutional investors have also modified their holdings of CGAU. Acadian Asset Management LLC grew its holdings in Centerra Gold by 594.6% during the 2nd quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company’s stock valued at $59,532,000 after purchasing an additional 7,586,370 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Centerra Gold by 158.9% in the second quarter. Bank of Montreal Can now owns 2,433,241 shares of the company’s stock worth $16,881,000 after buying an additional 1,493,349 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Centerra Gold by 36.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock worth $31,514,000 after acquiring an additional 1,175,000 shares during the last quarter. American Century Companies Inc. boosted its holdings in Centerra Gold by 132.8% during the 2nd quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock valued at $12,345,000 after acquiring an additional 1,047,142 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in Centerra Gold in the 2nd quarter valued at $6,772,000. 55.40% of the stock is owned by institutional investors.

Centerra Gold Stock Up 0.7 %

Shares of NYSE:CGAU opened at $6.03 on Monday. The business’s 50 day moving average is $6.78 and its 200 day moving average is $6.83. The stock has a market cap of $1.27 billion, a P/E ratio of 12.56 and a beta of 0.98. Centerra Gold Inc. has a 52-week low of $4.47 and a 52-week high of $7.82.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $323.93 million for the quarter. Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. During the same quarter last year, the firm earned $0.20 earnings per share. On average, sell-side analysts anticipate that Centerra Gold Inc. will post 0.79 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.052 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.21 annualized dividend and a dividend yield of 3.45%. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s payout ratio is currently 41.67%.

Analyst Upgrades and Downgrades

Separately, Desjardins raised shares of Centerra Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Centerra Gold Company Profile

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.