American Century Companies Inc. Increases Stake in Centerra Gold Inc. (NYSE:CGAU)

American Century Companies Inc. increased its position in shares of Centerra Gold Inc. (NYSE:CGAU) by 34.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,291,860 shares of the company’s stock after purchasing an additional 836,777 shares during the period. American Century Companies Inc. owned approximately 1.57% of Centerra Gold worth $18,733,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Quantbot Technologies LP boosted its position in shares of Centerra Gold by 56.9% during the fourth quarter. Quantbot Technologies LP now owns 90,664 shares of the company’s stock valued at $516,000 after buying an additional 32,868 shares during the period. Counterpoint Mutual Funds LLC bought a new stake in shares of Centerra Gold during the 4th quarter worth approximately $413,000. Intact Investment Management Inc. boosted its holdings in Centerra Gold by 35.6% during the 4th quarter. Intact Investment Management Inc. now owns 267,500 shares of the company’s stock valued at $1,522,000 after acquiring an additional 70,200 shares during the period. Amundi grew its position in Centerra Gold by 168.6% in the 4th quarter. Amundi now owns 2,628,623 shares of the company’s stock valued at $15,377,000 after acquiring an additional 1,650,160 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Centerra Gold in the fourth quarter worth $258,000. 55.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CGAU has been the subject of a number of recent analyst reports. National Bank Financial raised shares of Centerra Gold to a “strong-buy” rating in a research note on Friday, March 21st. Scotiabank dropped their target price on shares of Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, January 15th. Desjardins downgraded shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 13th. CIBC reissued a “neutral” rating on shares of Centerra Gold in a research note on Thursday, March 20th. Finally, Cormark downgraded Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Centerra Gold Stock Performance

NYSE:CGAU opened at $6.35 on Monday. The firm has a 50-day simple moving average of $6.17 and a 200-day simple moving average of $6.34. Centerra Gold Inc. has a one year low of $5.46 and a one year high of $7.82. The firm has a market cap of $1.33 billion, a P/E ratio of 17.63 and a beta of 0.92.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The business had revenue of $302.40 million during the quarter, compared to the consensus estimate of $316.92 million. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. On average, research analysts predict that Centerra Gold Inc. will post 0.59 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, March 13th. This represents a $0.28 dividend on an annualized basis and a yield of 4.41%. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio (DPR) is presently 52.78%.

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.