Polar Asset Management Partners Inc. Invests $1.48 Million in Centerra Gold Inc. $CGAU

Polar Asset Management Partners Inc. bought a new stake in shares of Centerra Gold Inc. (NYSE:CGAU) in the 2nd quarter, Holdings Channel.com reports. The firm bought 93,153 shares of the company’s stock, valued at approximately $1,475,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CGAU. Cubist Systematic Strategies LLC bought a new stake in Centerra Gold during the first quarter valued at about $192,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Centerra Gold in the first quarter worth about $97,000. Goldman Sachs Group Inc. grew its position in shares of Centerra Gold by 57.2% during the first quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock worth $84,739,000 after purchasing an additional 4,853,494 shares in the last quarter. Empowered Funds LLC bought a new stake in Centerra Gold during the 1st quarter valued at approximately $218,000. Finally, Geode Capital Management LLC raised its stake in Centerra Gold by 20.3% during the 2nd quarter. Geode Capital Management LLC now owns 767,536 shares of the company’s stock valued at $5,534,000 after purchasing an additional 129,737 shares during the period. 55.40% of the stock is owned by hedge funds and other institutional investors.

Centerra Gold Price Performance

CGAU opened at $23.69 on Thursday. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 0.90 and a beta of 0.80. The company has a current ratio of 2.42, a quick ratio of 1.49 and a debt-to-equity ratio of 0.03. Centerra Gold Inc. has a 12-month low of $7.68 and a 12-month high of $24.32. The business’s fifty day simple moving average is $18.14 and its 200-day simple moving average is $18.04.

Centerra Gold (NYSE:CGAU) last announced 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 net margin of 36.92% and a return on equity of 15.35%. The company had revenue of $442.71 million during the quarter, compared to the consensus estimate of $394.27 million. On average, equities research analysts anticipate that Centerra Gold Inc. will post 1.63 earnings per share for the current fiscal 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 paid a $0.07 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. Centerra Gold’s payout ratio is currently 6.39%.

Analyst Ratings Changes

CGAU has been the topic of several research analyst reports. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Centerra Gold in a research note on Thursday, July 30th. Scotiabank restated an “outperform” rating on shares of Centerra Gold in a research report on Tuesday, August 4th. Wall Street Zen cut Centerra Gold from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Weiss Ratings cut Centerra Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.