The Manufacturers Life Insurance Company Takes $16.43 Million Position in Centerra Gold Inc. $CGAU

The Manufacturers Life Insurance Company acquired a new stake in Centerra Gold Inc. (NYSE:CGAU) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,037,994 shares of the company’s stock, valued at approximately $16,428,000.

Other large investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its holdings in Centerra Gold by 2.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 24,860 shares of the company’s stock worth $357,000 after buying an additional 575 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Centerra Gold by 2.1% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 36,939 shares of the company’s stock valued at $531,000 after buying an additional 747 shares during the period. CWM LLC grew its stake in shares of Centerra Gold by 5.3% in the fourth quarter. CWM LLC now owns 16,300 shares of the company’s stock worth $234,000 after acquiring an additional 820 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Centerra Gold by 3.5% in the first quarter. Pictet Asset Management Holding SA now owns 39,102 shares of the company’s stock worth $693,000 after acquiring an additional 1,340 shares in the last quarter. Finally, Baron Wealth Management LLC increased its position in shares of Centerra Gold by 6.2% during the first quarter. Baron Wealth Management LLC now owns 27,602 shares of the company’s stock worth $491,000 after acquiring an additional 1,621 shares during the period. 55.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CGAU has been the topic of a number of analyst reports. Wall Street Zen lowered Centerra Gold from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Thursday, July 30th. Scotiabank restated an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, August 4th. Finally, Weiss Ratings downgraded shares of Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.50.

Centerra Gold Price Performance

Shares of NYSE:CGAU opened at $23.48 on Friday. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 7.50, a price-to-earnings-growth ratio of 0.91 and a beta of 0.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.42 and a quick ratio of 1.49. The business’s 50 day simple moving average is $18.43 and its 200-day simple moving average is $18.13. Centerra Gold Inc. has a 12 month low of $7.84 and a 12 month high of $24.52.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The firm had revenue of $442.71 million during the quarter, compared to the consensus estimate of $394.27 million. Centerra Gold had a return on equity of 15.35% and a net margin of 36.92%. As a group, equities analysts forecast that Centerra Gold Inc. will post 1.63 earnings per share for the current fiscal year.

Centerra Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.28 annualized dividend and a yield of 1.2%. Centerra Gold’s dividend payout ratio is 6.39%.

Centerra Gold Company Profile

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.