Geode Capital Management LLC Raises Stake in Centerra Gold Inc. (NYSE:CGAU)

Geode Capital Management LLC lifted its position in Centerra Gold Inc. (NYSE:CGAU) by 378.7% in the third quarter, HoldingsChannel.com reports. The firm owned 454,939 shares of the company’s stock after purchasing an additional 359,905 shares during the quarter. Geode Capital Management LLC’s holdings in Centerra Gold were worth $4,152,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. TD Asset Management Inc increased its stake in Centerra Gold by 0.7% in the 2nd quarter. TD Asset Management Inc now owns 587,062 shares of the company’s stock worth $3,947,000 after buying an additional 4,356 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Centerra Gold by 594.6% in the second quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company’s stock worth $59,532,000 after acquiring an additional 7,586,370 shares during the period. American Century Companies Inc. grew its position in shares of Centerra Gold by 132.8% during the second quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock worth $12,345,000 after purchasing an additional 1,047,142 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Centerra Gold during the 2nd quarter valued at approximately $131,000. Finally, Renaissance Technologies LLC lifted its holdings in Centerra Gold by 29.0% in the 2nd quarter. Renaissance Technologies LLC now owns 327,800 shares of the company’s stock worth $2,203,000 after purchasing an additional 73,600 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Desjardins upgraded shares of Centerra Gold to a “moderate buy” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Centerra Gold Trading Down 1.7 %

Shares of CGAU stock opened at $5.79 on Monday. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 12.06 and a beta of 0.89. Centerra Gold Inc. has a 12-month low of $4.47 and a 12-month high of $7.82. The stock’s 50-day moving average price is $6.06 and its 200-day moving average price is $6.64.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $323.93 million during the quarter. Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. During the same quarter last year, the firm posted $0.20 earnings per share. As a group, research analysts predict that Centerra Gold Inc. will post 0.79 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a dividend of $0.052 per share. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.21 dividend on an annualized basis and a yield of 3.59%. Centerra Gold’s dividend payout ratio is presently 41.67%.

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.