Renaissance Technologies LLC Acquires 363,538 Shares of Centerra Gold Inc. $CGAU

Renaissance Technologies LLC raised its stake in shares of Centerra Gold Inc. (NYSE:CGAU) by 66.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 912,238 shares of the company’s stock after buying an additional 363,538 shares during the quarter. Renaissance Technologies LLC owned about 0.46% of Centerra Gold worth $16,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Osaic Holdings Inc. boosted its position in shares of Centerra Gold by 63.0% during the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock worth $34,000 after acquiring an additional 1,839 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Centerra Gold during the fourth quarter valued at $36,000. Leonteq Securities AG bought a new stake in Centerra Gold in the 4th quarter valued at $72,000. Dynamic Technology Lab Private Ltd bought a new stake in Centerra Gold in the 1st quarter valued at $97,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Centerra Gold in the 4th quarter worth $100,000. Institutional investors own 55.40% of the company’s stock.

Analysts Set New Price Targets

CGAU has been the subject of several research reports. Weiss Ratings downgraded shares of Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Thursday. Scotiabank reiterated an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, July 7th. Finally, Wall Street Zen lowered Centerra Gold from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

Centerra Gold Price Performance

NYSE:CGAU opened at $17.18 on Friday. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 5.49, a PEG ratio of 0.69 and a beta of 0.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.42 and a quick ratio of 1.60. The business has a 50 day simple moving average of $16.33 and a 200-day simple moving average of $17.52. Centerra Gold Inc. has a 1 year low of $6.71 and a 1 year high of $21.17.

Centerra Gold (NYSE:CGAU) last released its earnings results on Tuesday, July 28th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Centerra Gold had a return on equity of 15.35% and a net margin of 36.92%.The firm had revenue of $442.71 million for the quarter, compared to the consensus estimate of $394.27 million. Equities analysts forecast that Centerra Gold Inc. will post 1.61 EPS for the current year.

Centerra Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. Centerra Gold’s payout ratio is 6.71%.

Centerra Gold Company Profile

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.