Arrowstreet Capital Limited Partnership Buys 1,126,825 Shares of Centerra Gold Inc. (NYSE:CGAU)

Arrowstreet Capital Limited Partnership increased its stake in shares of Centerra Gold Inc. (NYSE:CGAU) by 24.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,808,773 shares of the company’s stock after buying an additional 1,126,825 shares during the period. Arrowstreet Capital Limited Partnership owned 2.77% of Centerra Gold worth $33,028,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Centerra Gold during the fourth quarter worth approximately $59,000. Wilmington Savings Fund Society FSB acquired a new stake in Centerra Gold during the 4th quarter worth approximately $80,000. HighTower Advisors LLC bought a new stake in Centerra Gold in the 3rd quarter valued at $127,000. Entropy Technologies LP bought a new position in Centerra Gold during the 4th quarter worth $177,000. Finally, Verition Fund Management LLC bought a new position in Centerra Gold during the 3rd quarter worth $206,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CGAU shares. CIBC restated a “neutral” rating on shares of Centerra Gold in a research note on Thursday, March 20th. Desjardins cut shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday, February 13th. Cormark downgraded shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, February 26th. National Bank Financial raised Centerra Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Scotiabank dropped their price objective on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a report on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.00.

Centerra Gold Stock Performance

Shares of NYSE:CGAU opened at $6.28 on Thursday. The firm has a 50 day moving average of $6.19 and a 200-day moving average of $6.33. Centerra Gold Inc. has a 12 month low of $5.46 and a 12 month high of $7.82. The stock has a market capitalization of $1.32 billion, a PE ratio of 17.44 and a beta of 0.92.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. The firm had revenue of $302.40 million for the quarter, compared to analyst estimates of $316.92 million. On average, research analysts predict that Centerra Gold Inc. will post 0.59 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $0.07 dividend. The ex-dividend date was Thursday, March 13th. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.28 annualized dividend and a yield of 4.46%. Centerra Gold’s dividend payout ratio (DPR) is 52.78%.

Centerra Gold Company 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.