Centerra Gold Inc. (NYSE:CGAU) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp raised its stake in shares of Centerra Gold Inc. (NYSE:CGAU) by 111.3% during the second quarter, HoldingsChannel reports. The firm owned 1,493,717 shares of the company’s stock after purchasing an additional 786,688 shares during the quarter. Mackenzie Financial Corp’s holdings in Centerra Gold were worth $10,046,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC boosted its position in Centerra Gold by 594.6% in the second quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company’s stock valued at $59,532,000 after buying an additional 7,586,370 shares during the last quarter. Pale Fire Capital SE boosted its holdings in shares of Centerra Gold by 1,136.9% in the 4th quarter. Pale Fire Capital SE now owns 1,807,787 shares of the company’s stock valued at $10,774,000 after acquiring an additional 1,661,638 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Centerra Gold by 7.6% during the first quarter. Van ECK Associates Corp now owns 22,034,754 shares of the company’s stock worth $130,191,000 after purchasing an additional 1,552,601 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Centerra Gold by 158.9% during the second quarter. Bank of Montreal Can now owns 2,433,241 shares of the company’s stock worth $16,881,000 after purchasing an additional 1,493,349 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Centerra Gold by 132.8% during the second quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock valued at $12,345,000 after purchasing an additional 1,047,142 shares during the period. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on CGAU shares. Cibc World Mkts downgraded Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. CIBC reiterated a “neutral” rating and set a $13.00 price target (up from $11.00) on shares of Centerra Gold in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Centerra Gold Stock Performance

Shares of Centerra Gold stock opened at $7.18 on Tuesday. The firm has a 50-day simple moving average of $6.90 and a two-hundred day simple moving average of $6.65. Centerra Gold Inc. has a fifty-two week low of $4.47 and a fifty-two week high of $7.82. The company has a market cap of $1.54 billion, a P/E ratio of 26.57 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.07. Centerra Gold had a return on equity of 10.72% and a net margin of 10.68%. The company had revenue of $282.31 million during the quarter. During the same period in the previous year, the company posted ($0.20) EPS. Equities research analysts forecast that Centerra Gold Inc. will post 0.82 EPS for the current year.

Centerra Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.051 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.84%. Centerra Gold’s dividend payout ratio (DPR) is 74.07%.

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.