Legal & General Group Plc Purchases New Position in Centerra Gold Inc. $CGAU

Legal & General Group Plc purchased a new position in Centerra Gold Inc. (NYSE:CGAU) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 302,629 shares of the company’s stock, valued at approximately $4,797,000. Legal & General Group Plc owned approximately 0.15% of Centerra Gold at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new stake in shares of Centerra Gold in the 1st quarter valued at approximately $192,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Centerra Gold during the 1st quarter valued at approximately $97,000. Goldman Sachs Group Inc. raised its holdings in Centerra Gold by 57.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock valued at $84,739,000 after buying an additional 4,853,494 shares during the period. Empowered Funds LLC bought a new stake in Centerra Gold in the first quarter worth $218,000. Finally, Geode Capital Management LLC boosted its stake in Centerra Gold by 20.3% during the second quarter. Geode Capital Management LLC now owns 767,536 shares of the company’s stock worth $5,534,000 after buying an additional 129,737 shares during the period. 55.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Centerra Gold Stock Up 3.6%

Shares of CGAU opened at $23.07 on Friday. The firm has a market capitalization of $4.51 billion, a P/E ratio of 7.37, a P/E/G ratio of 0.83 and a beta of 0.86. Centerra Gold Inc. has a 12-month low of $8.25 and a 12-month high of $24.52. The firm has a fifty day moving average price of $18.95 and a 200-day moving average price of $18.23. The company has a current ratio of 2.42, a quick ratio of 1.49 and a debt-to-equity ratio of 0.03.

Centerra Gold (NYSE:CGAU) last issued its earnings results on Tuesday, July 28th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $442.71 million for the quarter, compared to the consensus estimate of $394.27 million. Centerra Gold had a net margin of 36.92% and a return on equity of 15.35%. Equities research analysts expect that Centerra Gold Inc. will post 1.63 earnings per share for the current year.

Centerra Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were paid a $0.07 dividend. The ex-dividend date of this dividend was 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.