Grantham Mayo Van Otterloo & Co. LLC Makes New $614,000 Investment in Centerra Gold Inc. (NYSE:CGAU)

Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in Centerra Gold Inc. (NYSE:CGAU) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 107,909 shares of the company’s stock, valued at approximately $614,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in Centerra Gold in the 4th quarter worth about $59,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Centerra Gold during the fourth quarter valued at about $60,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Centerra Gold in the fourth quarter worth about $80,000. HighTower Advisors LLC purchased a new stake in shares of Centerra Gold in the third quarter worth about $127,000. Finally, Entropy Technologies LP bought a new position in shares of Centerra Gold in the fourth quarter valued at approximately $177,000. 55.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on CGAU shares. Desjardins cut shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 13th. National Bank Financial raised shares of Centerra Gold to a “strong-buy” rating in a report on Friday, March 21st. CIBC reissued a “neutral” rating on shares of Centerra Gold in a research note on Thursday, March 20th. Scotiabank reduced their target price on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a research report on Wednesday, January 15th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Centerra Gold Stock Performance

Centerra Gold stock opened at $5.51 on Wednesday. Centerra Gold Inc. has a fifty-two week low of $5.41 and a fifty-two week high of $7.82. The stock has a market cap of $1.16 billion, a P/E ratio of 15.29 and a beta of 0.81. The firm’s fifty day moving average price is $6.15 and its 200-day moving average price is $6.29.

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

Centerra Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $0.07 dividend. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date was Thursday, March 13th. This represents a $0.28 dividend on an annualized basis and a yield of 5.09%. Centerra Gold’s payout ratio 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.