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

HighTower Advisors LLC bought a new position in shares of Centerra Gold Inc. (NYSE:CGAU) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 17,768 shares of the company’s stock, valued at approximately $127,000.

Other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Centerra Gold in the second quarter valued at approximately $6,772,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Centerra Gold in the 2nd quarter valued at $154,000. CIBC Asset Management Inc lifted its position in shares of Centerra Gold by 7.4% during the 2nd quarter. CIBC Asset Management Inc now owns 267,307 shares of the company’s stock valued at $1,796,000 after acquiring an additional 18,359 shares during the period. CM Management LLC grew its holdings in shares of Centerra Gold by 20.0% during the 2nd quarter. CM Management LLC now owns 300,000 shares of the company’s stock worth $2,016,000 after purchasing an additional 50,000 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Centerra Gold by 0.7% during the 2nd quarter. TD Asset Management Inc now owns 587,062 shares of the company’s stock worth $3,947,000 after purchasing an additional 4,356 shares in the last quarter. 55.40% of the stock is owned by institutional investors and hedge funds.

Centerra Gold Price Performance

Shares of Centerra Gold stock opened at $5.66 on Friday. The company’s 50 day moving average price is $6.27 and its two-hundred day moving average price is $6.68. The firm has a market capitalization of $1.19 billion, a P/E ratio of 11.79 and a beta of 0.89. Centerra Gold Inc. has a fifty-two week low of $4.47 and a fifty-two week high of $7.82.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm 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 quarter in the prior year, the company earned $0.20 EPS. On average, 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 disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a $0.052 dividend. This represents a $0.21 dividend on an annualized basis and a yield of 3.67%. 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. Centerra Gold’s dividend payout ratio (DPR) is 41.67%.

Analyst Ratings Changes

Separately, Desjardins raised shares of Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st. Two research 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, Centerra Gold currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

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.