Acadian Asset Management LLC Has $42.67 Million Stake in Centerra Gold Inc. $CGAU

Acadian Asset Management LLC trimmed its holdings in Centerra Gold Inc. (NYSE:CGAU) by 21.9% in the first quarter, Holdings Channel reports. The fund owned 6,732,151 shares of the company’s stock after selling 1,887,405 shares during the period. Acadian Asset Management LLC’s holdings in Centerra Gold were worth $42,670,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CGAU. The Manufacturers Life Insurance Company grew its stake in Centerra Gold by 2.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 181,755 shares of the company’s stock valued at $1,036,000 after acquiring an additional 3,608 shares during the period. BNP Paribas Financial Markets acquired a new position in Centerra Gold in the fourth quarter valued at about $396,000. Deutsche Bank AG grew its stake in Centerra Gold by 91.5% in the fourth quarter. Deutsche Bank AG now owns 23,218 shares of the company’s stock valued at $132,000 after acquiring an additional 11,093 shares during the period. Graham Capital Management L.P. acquired a new position in shares of Centerra Gold during the fourth quarter worth about $204,000. Finally, Millennium Management LLC boosted its position in shares of Centerra Gold by 0.3% during the fourth quarter. Millennium Management LLC now owns 585,238 shares of the company’s stock worth $3,330,000 after buying an additional 1,663 shares during the period. 55.40% of the stock is owned by institutional investors and hedge funds.

Centerra Gold Stock Performance

Shares of NYSE CGAU opened at $8.96 on Thursday. The stock has a 50 day moving average price of $7.52 and a 200 day moving average price of $6.92. Centerra Gold Inc. has a 52 week low of $5.41 and a 52 week high of $9.01. The stock has a market capitalization of $1.81 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 0.67 and a beta of 0.82.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.17 by $0.08. Centerra Gold had a return on equity of 9.12% and a net margin of 6.21%.The firm had revenue of $288.30 million during the quarter, compared to analysts’ expectations of $319.42 million. As a group, research analysts forecast that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.28 annualized dividend and a yield of 3.1%. Centerra Gold’s dividend payout ratio is 60.61%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Royal Bank Of Canada cut Centerra Gold from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $13.00 to $14.00 in a research report on Wednesday. Cibc World Mkts raised Centerra Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 27th. CIBC reaffirmed an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, July 15th. Wall Street Zen raised Centerra Gold from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, BMO Capital Markets cut Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Centerra Gold has a consensus rating of “Moderate Buy” and an average target price of $13.33.

Centerra Gold 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.