Plato Investment Management Ltd Makes New Investment in Centerra Gold Inc. (NYSE:CGAU)

Plato Investment Management Ltd acquired a new stake in Centerra Gold Inc. (NYSE:CGAU) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 57,395 shares of the company’s stock, valued at approximately $412,000.

A number of other institutional investors have also modified their holdings of CGAU. CWM LLC acquired a new stake in Centerra Gold in the 3rd quarter valued at $57,000. Vanguard Personalized Indexing Management LLC grew its stake in shares of Centerra Gold by 12.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock valued at $96,000 after buying an additional 1,573 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Centerra Gold during the 2nd quarter valued at about $131,000. Virtu Financial LLC acquired a new position in Centerra Gold during the 1st quarter worth approximately $113,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Centerra Gold in the 2nd quarter worth approximately $154,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Desjardins upgraded shares of 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 issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Centerra Gold Stock Performance

NYSE:CGAU opened at $5.85 on Friday. Centerra Gold Inc. has a one year low of $4.47 and a one year high of $7.82. The business’s 50-day simple moving average is $6.95 and its 200 day simple moving average is $6.86. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 12.19 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Thursday, October 31st. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $323.93 million during the quarter. Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. During the same quarter last year, the firm posted $0.20 earnings per share. On average, equities research analysts predict that Centerra Gold Inc. will post 0.81 EPS for the current year.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.052 per share. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 annualized dividend and a yield of 3.56%. The ex-dividend date is Wednesday, November 13th. Centerra Gold’s dividend payout ratio (DPR) is currently 41.67%.

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.