Hsbc Holdings PLC Raises Stock Holdings in Centerra Gold Inc. (NYSE:CGAU)

Hsbc Holdings PLC raised its position in Centerra Gold Inc. (NYSE:CGAU) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 48,101 shares of the company’s stock after buying an additional 1,895 shares during the period. Hsbc Holdings PLC’s holdings in Centerra Gold were worth $325,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its position in shares of Centerra Gold by 594.6% during the second quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company’s stock worth $59,532,000 after buying an additional 7,586,370 shares during the period. Pale Fire Capital SE boosted its position in shares of Centerra Gold by 1,136.9% during the 4th quarter. Pale Fire Capital SE now owns 1,807,787 shares of the company’s stock worth $10,774,000 after acquiring an additional 1,661,638 shares in the last quarter. Van ECK Associates Corp raised its holdings in 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 in the last quarter. American Century Companies Inc. boosted its stake in Centerra Gold by 132.8% in the second quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock valued at $12,345,000 after acquiring an additional 1,047,142 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Centerra Gold in the second quarter valued at approximately $6,772,000. 55.40% of the stock is owned by institutional investors and hedge funds.

Centerra Gold Stock Performance

NYSE:CGAU opened at $7.23 on Thursday. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 26.78 and a beta of 0.98. The business’s 50-day simple moving average is $6.92 and its 200 day simple moving average is $6.66. Centerra Gold Inc. has a one year low of $4.47 and a one year high of $7.82.

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

Centerra Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a $0.051 dividend. This represents a $0.20 annualized dividend and a yield of 2.82%. The ex-dividend date was Thursday, August 15th. Centerra Gold’s dividend payout ratio is currently 74.07%.

Wall Street Analyst Weigh In

CGAU has been the subject of a number of analyst reports. CIBC restated a “neutral” rating and set a $13.00 price objective (up previously from $11.00) on shares of Centerra Gold in a research report on Wednesday, July 10th. Cibc World Mkts cut Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Centerra Gold presently has an average rating of “Moderate Buy” and an average price target of $11.00.

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.