Bank of Montreal Can Purchases 1,435,794 Shares of Centerra Gold Inc. (NYSE:CGAU)

Bank of Montreal Can grew its position in shares of Centerra Gold Inc. (NYSE:CGAU) by 59.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,869,035 shares of the company’s stock after buying an additional 1,435,794 shares during the quarter. Bank of Montreal Can’s holdings in Centerra Gold were worth $28,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC acquired a new position in shares of Centerra Gold in the third quarter valued at about $57,000. 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 worth $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 during the second quarter worth approximately $131,000. Virtu Financial LLC acquired a new stake in shares of Centerra Gold in the first quarter valued at approximately $113,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Centerra Gold in the second quarter valued at approximately $154,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

Analyst Ratings Changes

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

Centerra Gold Trading Up 0.8 %

NYSE CGAU opened at $6.04 on Friday. The firm’s 50 day simple moving average is $6.80 and its 200 day simple moving average is $6.84. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 12.57 and a beta of 0.98. Centerra Gold Inc. has a 1 year low of $4.47 and a 1 year high of $7.82.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. The business had revenue of $323.93 million during the quarter. During the same quarter last year, the firm posted $0.20 EPS. On average, equities research analysts forecast that Centerra Gold Inc. will post 0.79 earnings per share for the current year.

Centerra Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.052 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.45%. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio is 43.75%.

Centerra Gold Company Profile

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.