Arrowstreet Capital Limited Partnership Has $33.03 Million Stock Position in Centerra Gold Inc. (NYSE:CGAU)

Arrowstreet Capital Limited Partnership lifted its stake in shares of Centerra Gold Inc. (NYSE:CGAU) by 24.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,808,773 shares of the company’s stock after buying an additional 1,126,825 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Centerra Gold were worth $33,028,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Centerra Gold by 8.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,308 shares of the company’s stock worth $419,000 after purchasing an additional 4,373 shares in the last quarter. Atria Wealth Solutions Inc. grew its holdings in shares of Centerra Gold by 11.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 50,000 shares of the company’s stock worth $284,000 after purchasing an additional 5,000 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of Centerra Gold by 22.8% in the third quarter. Toronto Dominion Bank now owns 33,921 shares of the company’s stock valued at $243,000 after buying an additional 6,307 shares during the period. SG Americas Securities LLC bought a new position in Centerra Gold in the 4th quarter valued at approximately $59,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Centerra Gold in the 4th quarter valued at approximately $80,000. 55.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on CGAU. Desjardins cut shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 13th. Cormark downgraded Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 26th. CIBC reaffirmed a “neutral” rating on shares of Centerra Gold in a research report on Thursday, March 20th. National Bank Financial upgraded Centerra Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Scotiabank decreased their price target on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a research note on Wednesday, January 15th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Centerra Gold has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Centerra Gold Price Performance

CGAU opened at $6.28 on Thursday. Centerra Gold Inc. has a twelve month low of $5.46 and a twelve month high of $7.82. The company has a fifty day moving average of $6.19 and a 200-day moving average of $6.33. The stock has a market cap of $1.32 billion, a PE ratio of 17.44 and a beta of 0.92.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The business had revenue of $302.40 million for the quarter, compared to analyst estimates of $316.92 million. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. Sell-side analysts anticipate that Centerra Gold Inc. will post 0.59 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.07 dividend. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.28 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend was Thursday, March 13th. Centerra Gold’s payout ratio is presently 52.78%.

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.