Acadian Asset Management LLC Grows Holdings in Centerra Gold Inc. (NYSE:CGAU)

Acadian Asset Management LLC lifted its position in shares of Centerra Gold Inc. (NYSE:CGAU) by 309.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,275,800 shares of the company’s stock after acquiring an additional 964,294 shares during the period. Acadian Asset Management LLC owned about 0.59% of Centerra Gold worth $7,527,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Centerra Gold during the 4th quarter valued at approximately $98,000. Russell Investments Group Ltd. raised its position in shares of Centerra Gold by 943.8% during the 4th quarter. Russell Investments Group Ltd. now owns 65,020 shares of the company’s stock valued at $390,000 after acquiring an additional 58,791 shares in the last quarter. Trexquant Investment LP raised its position in shares of Centerra Gold by 330.4% during the 4th quarter. Trexquant Investment LP now owns 67,298 shares of the company’s stock valued at $401,000 after acquiring an additional 51,663 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its position in shares of Centerra Gold by 82.1% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 85,148 shares of the company’s stock valued at $507,000 after acquiring an additional 38,384 shares in the last quarter. Finally, Versor Investments LP raised its position in shares of Centerra Gold by 900.0% during the 4th quarter. Versor Investments LP now owns 106,000 shares of the company’s stock valued at $633,000 after acquiring an additional 95,400 shares in the last quarter. 55.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CGAU has been the topic of several analyst reports. Cibc World Mkts lowered Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Centerra Gold in a research report on Monday, April 8th. Scotiabank raised their price target on Centerra Gold from $8.00 to $9.00 and gave the company a “sector outperform” rating in a report on Thursday, May 23rd. Finally, CIBC reissued a “neutral” rating and set a $13.00 price target (up from $11.00) on shares of Centerra Gold in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Centerra Gold currently has a consensus rating of “Moderate Buy” and an average price target of $9.80.

Centerra Gold Price Performance

Shares of CGAU traded up $0.12 during trading hours on Monday, reaching $6.71. 250,792 shares of the company’s stock traded hands, compared to its average volume of 490,529. The business’s fifty day simple moving average is $6.88 and its two-hundred day simple moving average is $6.09. Centerra Gold Inc. has a twelve month low of $4.47 and a twelve month high of $7.51. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 24.41 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Tuesday, May 14th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Centerra Gold had a net margin of 4.99% and a return on equity of 5.58%. The firm had revenue of $305.88 million for the quarter. During the same period in the prior year, the company earned ($0.24) earnings per share. On average, equities research analysts expect that Centerra Gold Inc. will post 0.75 EPS for the current year.

Centerra Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Wednesday, May 29th were paid a dividend of $0.051 per share. The ex-dividend date was Wednesday, May 29th. This represents a $0.20 annualized dividend and a yield of 3.04%. Centerra Gold’s dividend payout ratio is currently 74.07%.

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.