Legal & General Group Plc Makes New $4.80 Million Investment in Centerra Gold Inc. $CGAU

Legal & General Group Plc purchased a new stake in Centerra Gold Inc. (NYSE:CGAU) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 302,629 shares of the company’s stock, valued at approximately $4,797,000.

Several other hedge funds have also recently modified their holdings of the business. Osaic Holdings Inc. lifted its holdings in Centerra Gold by 63.0% during the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock worth $34,000 after buying an additional 1,839 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of Centerra Gold during the 4th quarter worth $36,000. Pinnacle Holdings LLC bought a new stake in Centerra Gold during the second quarter valued at about $45,000. Leonteq Securities AG bought a new stake in Centerra Gold during the fourth quarter valued at about $72,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in Centerra Gold in the second quarter valued at about $83,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CGAU. Scotiabank reiterated an “outperform” rating on shares of Centerra Gold in a report on Tuesday, August 4th. Weiss Ratings raised shares of Centerra Gold from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Centerra Gold in a research note on Thursday, July 30th. Finally, Wall Street Zen cut shares of Centerra Gold from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.50.

Centerra Gold Stock Performance

Shares of Centerra Gold stock opened at $23.07 on Friday. The firm has a market capitalization of $4.51 billion, a P/E ratio of 7.37, a PEG ratio of 0.83 and a beta of 0.86. The company has a quick ratio of 1.49, a current ratio of 2.42 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average price of $18.95 and a 200 day moving average price of $18.23. Centerra Gold Inc. has a 52 week low of $8.25 and a 52 week high of $24.52.

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. The company had revenue of $442.71 million for the quarter, compared to the consensus estimate of $394.27 million. Centerra Gold had a net margin of 36.92% and a return on equity of 15.35%. Sell-side analysts expect that Centerra Gold Inc. will post 1.63 EPS for the current year.

Centerra Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Wednesday, August 19th. Centerra Gold’s payout ratio is presently 6.39%.

About Centerra Gold

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.