HighTower Advisors LLC Invests $127,000 in Centerra Gold Inc. (NYSE:CGAU)

HighTower Advisors LLC acquired a new stake in Centerra Gold Inc. (NYSE:CGAU) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 17,768 shares of the company’s stock, valued at approximately $127,000.

Other large investors have also bought and sold shares of the company. Acadian Asset Management LLC raised its holdings in shares of Centerra Gold by 594.6% in the second quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company’s stock valued at $59,532,000 after purchasing an additional 7,586,370 shares during the last quarter. Bank of Montreal Can lifted its position in Centerra Gold by 158.9% during the 2nd quarter. Bank of Montreal Can now owns 2,433,241 shares of the company’s stock worth $16,881,000 after buying an additional 1,493,349 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Centerra Gold by 36.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock worth $31,514,000 after buying an additional 1,175,000 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Centerra Gold by 132.8% during the 2nd quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock worth $12,345,000 after buying an additional 1,047,142 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Centerra Gold in the 2nd quarter valued at about $6,772,000. 55.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Centerra Gold Price Performance

Shares of CGAU opened at $5.66 on Friday. The company has a market cap of $1.19 billion, a PE ratio of 11.79 and a beta of 0.89. The firm has a 50-day moving average of $6.27 and a 200-day moving average of $6.68. Centerra Gold Inc. has a one year low of $4.47 and a one year high of $7.82.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business 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 period in the prior year, the firm earned $0.20 EPS. Analysts expect that Centerra Gold Inc. will post 0.79 earnings per share for the current year.

Centerra Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a dividend of $0.052 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.67%. Centerra Gold’s payout ratio is presently 41.67%.

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.