Centerra Gold Inc. (NYSE:CGAU) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Centerra Gold Inc. (NYSE:CGAU) by 36.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,390,005 shares of the company’s stock after acquiring an additional 1,175,000 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 2.07% of Centerra Gold worth $31,514,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Acadian Asset Management LLC grew its holdings 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 in the last quarter. Bank of Montreal Can grew its stake in Centerra Gold by 158.9% in the 2nd quarter. Bank of Montreal Can now owns 2,433,241 shares of the company’s stock worth $16,881,000 after acquiring an additional 1,493,349 shares during the period. American Century Companies Inc. raised its holdings in Centerra Gold by 132.8% in the 2nd 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 during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Centerra Gold during the 2nd quarter worth $6,772,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of Centerra Gold by 111.3% during the second quarter. Mackenzie Financial Corp now owns 1,493,717 shares of the company’s stock worth $10,046,000 after purchasing an additional 786,688 shares during the last quarter. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Desjardins upgraded Centerra Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Centerra Gold Trading Up 1.1 %

Shares of CGAU opened at $6.03 on Wednesday. The stock’s fifty day simple moving average is $6.91 and its 200 day simple moving average is $6.86. Centerra Gold Inc. has a twelve month low of $4.47 and a twelve month high of $7.82. The firm 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 released its quarterly earnings data on Thursday, October 31st. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). The firm had revenue of $323.93 million during the quarter. Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. During the same quarter in the prior year, the company earned $0.20 earnings per share. Sell-side analysts predict that Centerra Gold Inc. will post 0.81 earnings per share for the current year.

Centerra Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued 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 dividend yield of 3.45%. Centerra Gold’s 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.