Verition Fund Management LLC Makes New Investment in Centerra Gold Inc. (NYSE:CGAU)

Verition Fund Management LLC purchased a new stake in shares of Centerra Gold Inc. (NYSE:CGAU) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 28,754 shares of the company’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CGAU. CWM LLC purchased a new position in Centerra Gold during the third quarter valued at approximately $57,000. Capstone Investment Advisors LLC bought a new position in Centerra Gold in the 3rd quarter valued at $89,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Centerra Gold by 12.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock valued at $96,000 after purchasing an additional 1,573 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Centerra Gold in the second quarter worth $131,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Centerra Gold in the second quarter worth $154,000. 55.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Centerra Gold Price Performance

Shares of NYSE:CGAU opened at $5.83 on Monday. The company’s fifty day moving average price is $6.51 and its 200-day moving average price is $6.76. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 12.15 and a beta of 0.89. Centerra Gold Inc. has a one year low of $4.47 and a one year high of $7.82.

Centerra Gold (NYSE:CGAU) last released its 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). Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. The firm had revenue of $323.93 million during the quarter. During the same quarter in the previous year, the company posted $0.20 earnings per share. As a group, equities research analysts expect that Centerra Gold Inc. will post 0.79 EPS for the current year.

Centerra Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given 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 annualized dividend and a dividend yield of 3.57%. Centerra Gold’s dividend payout ratio is 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.