Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Centerra Gold Inc. $CGAU

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Centerra Gold Inc. (NYSE:CGAU) during the 2nd quarter, Holdings Channel reports. The firm bought 2,344,544 shares of the company’s stock, valued at approximately $37,142,000.

A number of other large investors also recently made changes to their positions in the company. Pinnacle Holdings LLC acquired a new stake in Centerra Gold during the 2nd quarter worth approximately $45,000. Quantbot Technologies LP acquired a new position in Centerra Gold in the 2nd quarter valued at $1,035,000. Heartland Advisors Inc. bought a new position in Centerra Gold during the 2nd quarter worth $34,082,000. C M Bidwell & Associates Ltd. bought a new position in Centerra Gold during the 2nd quarter worth $83,000. Finally, Donald Smith & CO. Inc. acquired a new stake in shares of Centerra Gold during the second quarter worth $245,004,000. Institutional investors own 55.40% of the company’s stock.

Centerra Gold Stock Performance

Shares of NYSE:CGAU opened at $23.48 on Tuesday. The company’s 50 day simple moving average is $17.88 and its 200 day simple moving average is $17.95. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 7.50, a price-to-earnings-growth ratio of 0.89 and a beta of 0.80. 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 Inc. has a 1 year low of $7.64 and a 1 year high of $24.32.

Centerra Gold (NYSE:CGAU) last released its earnings results on Tuesday, July 28th. The company reported $0.39 earnings per share 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 analysts’ expectations of $394.27 million. As a group, research analysts predict that Centerra Gold Inc. will post 1.63 EPS for the current fiscal year.

Centerra Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.28 annualized dividend and a yield of 1.2%. Centerra Gold’s dividend payout ratio (DPR) is 6.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CGAU shares. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Centerra Gold in a research 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. Weiss Ratings downgraded shares of Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Finally, Scotiabank restated an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, August 4th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.50.

Centerra Gold 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.