Russell Investments Group Ltd. Purchases 425,041 Shares of Centerra Gold Inc. (NYSE:CGAU)

Russell Investments Group Ltd. lifted its position in shares of Centerra Gold Inc. (NYSE:CGAU) by 90.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 896,254 shares of the company’s stock after acquiring an additional 425,041 shares during the period. Russell Investments Group Ltd. owned approximately 0.43% of Centerra Gold worth $5,098,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CGAU. Donald Smith & CO. Inc. increased its holdings in shares of Centerra Gold by 30.1% in the 4th quarter. Donald Smith & CO. Inc. now owns 8,723,060 shares of the company’s stock worth $49,634,000 after purchasing an additional 2,017,756 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Centerra Gold by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 8,254,618 shares of the company’s stock valued at $46,977,000 after buying an additional 76,544 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Centerra Gold by 24.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,808,773 shares of the company’s stock worth $33,028,000 after buying an additional 1,126,825 shares in the last quarter. American Century Companies Inc. raised its position in Centerra Gold by 34.1% in the 4th quarter. American Century Companies Inc. now owns 3,291,860 shares of the company’s stock worth $18,733,000 after buying an additional 836,777 shares during the last quarter. Finally, Amundi lifted its stake in Centerra Gold by 168.6% during the 4th quarter. Amundi now owns 2,628,623 shares of the company’s stock valued at $15,377,000 after acquiring an additional 1,650,160 shares during the period. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Centerra Gold Stock Performance

Shares of Centerra Gold stock opened at $6.76 on Tuesday. The stock has a market cap of $1.42 billion, a P/E ratio of 18.78 and a beta of 0.81. The stock’s fifty day moving average is $6.14 and its 200 day moving average is $6.25. Centerra Gold Inc. has a one year low of $5.41 and a one year high of $7.82.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). The company had revenue of $302.40 million during the quarter, compared to the consensus estimate of $316.92 million. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. Analysts predict that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.28 annualized dividend and a yield of 4.14%. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s payout ratio is currently 52.78%.

Analyst Ratings Changes

CGAU has been the subject of a number of research analyst reports. Raymond James reiterated an “outperform” rating on shares of Centerra Gold in a research note on Friday, April 4th. Scotiabank boosted their target price on shares of Centerra Gold from $9.00 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday. CIBC reaffirmed a “neutral” rating on shares of Centerra Gold in a report on Thursday, March 20th. National Bank Financial raised Centerra Gold to a “strong-buy” rating in a report on Friday, March 21st. Finally, Cormark cut Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.00.

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.