The Manufacturers Life Insurance Company Takes $16.43 Million Position in Centerra Gold Inc. $CGAU

The Manufacturers Life Insurance Company bought a new position in shares of Centerra Gold Inc. (NYSE:CGAU) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,037,994 shares of the company’s stock, valued at approximately $16,428,000. The Manufacturers Life Insurance Company owned 0.53% of Centerra Gold at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Osaic Holdings Inc. grew its stake in Centerra Gold by 63.0% in the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock valued at $34,000 after acquiring an additional 1,839 shares during the period. Global Retirement Partners LLC acquired a new position in Centerra Gold during the fourth quarter worth $36,000. Pinnacle Holdings LLC acquired a new position in Centerra Gold during the second quarter worth $45,000. Leonteq Securities AG purchased a new position in Centerra Gold during the fourth quarter valued at $72,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in Centerra Gold during the second quarter valued at $83,000. 55.40% of the stock is owned by institutional investors and hedge funds.

Centerra Gold Trading Down 3.2%

CGAU opened at $23.48 on Friday. The business’s 50 day moving average price is $18.43 and its 200 day moving average price is $18.13. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.49 and a current ratio of 2.42. The stock has a market capitalization of $4.61 billion, a PE ratio of 7.50, a P/E/G ratio of 0.91 and a beta of 0.80. Centerra Gold Inc. has a one year low of $7.84 and a one year high of $24.52.

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

Centerra Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. Centerra Gold’s payout ratio is presently 6.39%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CGAU. Weiss Ratings cut Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Centerra Gold in a research report on Thursday, July 30th. Wall Street Zen lowered Centerra Gold from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Scotiabank reiterated an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, August 4th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Centerra Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

About Centerra Gold

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.