Connor Clark & Lunn Investment Management Ltd. Grows Stock Position in Centerra Gold Inc. (NYSE:CGAU)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Centerra Gold Inc. (NYSE:CGAU) by 36.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,390,005 shares of the company’s stock after purchasing an additional 1,175,000 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Centerra Gold were worth $31,514,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. CWM LLC acquired a new position in Centerra Gold in the 3rd quarter worth $57,000. Vanguard Personalized Indexing Management LLC boosted its holdings in Centerra Gold by 12.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock valued at $96,000 after purchasing an additional 1,573 shares during the last quarter. Virtu Financial LLC acquired a new stake in Centerra Gold during the 1st quarter valued at approximately $113,000. DekaBank Deutsche Girozentrale acquired a new stake in Centerra Gold during the 2nd quarter valued at approximately $131,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Centerra Gold during the 2nd quarter worth approximately $154,000. 55.40% of the stock is owned by institutional investors and hedge funds.

Centerra Gold Stock Up 1.1 %

Shares of NYSE CGAU opened at $6.03 on Wednesday. The stock’s 50 day moving average price is $6.91 and its two-hundred day moving average price is $6.86. Centerra Gold Inc. has a 52-week low of $4.47 and a 52-week high of $7.82. The stock has a market capitalization of $1.27 billion, a P/E ratio of 12.55 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The firm had revenue of $323.93 million for the quarter. Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. During the same quarter in the previous year, the business earned $0.20 EPS. On average, analysts anticipate that Centerra Gold Inc. will post 0.81 EPS for the current year.

Centerra Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.052 per share. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.21 annualized dividend and a yield of 3.45%. Centerra Gold’s dividend payout ratio is 41.67%.

Wall Street Analyst Weigh In

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