Connor Clark & Lunn Investment Management Ltd. Buys 1,175,000 Shares of Centerra Gold Inc. (NYSE:CGAU)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) by 36.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,390,005 shares of the company's stock after acquiring an additional 1,175,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 2.07% of Centerra Gold worth $31,514,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CGAU. PCJ Investment Counsel Ltd. increased its position in shares of Centerra Gold by 59.6% during the third quarter. PCJ Investment Counsel Ltd. now owns 434,628 shares of the company's stock worth $3,120,000 after buying an additional 162,382 shares during the period. Plato Investment Management Ltd bought a new stake in Centerra Gold in the third quarter valued at $412,000. Versor Investments LP increased its stake in Centerra Gold by 40.9% in the third quarter. Versor Investments LP now owns 146,700 shares of the company's stock valued at $1,053,000 after purchasing an additional 42,600 shares in the last quarter. Old West Investment Management LLC increased its stake in Centerra Gold by 100.0% in the third quarter. Old West Investment Management LLC now owns 400,000 shares of the company's stock valued at $2,864,000 after purchasing an additional 200,000 shares in the last quarter. Finally, Integrated Advisors Network LLC bought a new stake in Centerra Gold in the third quarter valued at $367,000. Institutional investors own 55.40% of the company's stock.

Centerra Gold Price Performance

Shares of NYSE CGAU traded up $0.04 during mid-day trading on Wednesday, reaching $6.06. 930,974 shares of the company's stock traded hands, compared to its average volume of 658,685. Centerra Gold Inc. has a 1-year low of $4.47 and a 1-year high of $7.82. The stock has a market cap of $1.28 billion, a P/E ratio of 12.55 and a beta of 0.98. The business has a 50-day simple moving average of $6.91 and a 200 day simple moving average of $6.86.

Centerra Gold (NYSE:CGAU - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. The firm had revenue of $323.93 million for the quarter. During the same quarter in the previous year, the business posted $0.20 EPS. Equities research analysts anticipate that Centerra Gold Inc. will post 0.81 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.052 per share. This represents a $0.21 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from Centerra Gold's previous quarterly dividend of $0.05. Centerra Gold's dividend payout ratio is 41.67%.

Analysts Set New Price Targets

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

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.