Two Sigma Advisers LP Sells 244,400 Shares of Centerra Gold Inc. (NYSE:CGAU)

Two Sigma Advisers LP decreased its stake in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) by 10.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,988,235 shares of the company's stock after selling 244,400 shares during the period. Two Sigma Advisers LP owned 0.94% of Centerra Gold worth $14,236,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC lifted its position in shares of Centerra Gold by 594.6% during the 2nd quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company's stock worth $59,532,000 after purchasing an additional 7,586,370 shares during the last quarter. Bank of Montreal Can boosted its stake in Centerra Gold by 158.9% during the second quarter. Bank of Montreal Can now owns 2,433,241 shares of the company's stock worth $16,881,000 after buying an additional 1,493,349 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Centerra Gold by 36.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company's stock worth $31,514,000 after buying an additional 1,175,000 shares in the last quarter. American Century Companies Inc. increased its holdings in Centerra Gold by 132.8% in the 2nd quarter. American Century Companies Inc. now owns 1,835,673 shares of the company's stock valued at $12,345,000 after buying an additional 1,047,142 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Centerra Gold in the 2nd quarter valued at $6,772,000. 55.40% of the stock is owned by institutional investors.

Centerra Gold Stock Performance

Shares of NYSE:CGAU traded up $0.19 on Monday, hitting $6.03. The stock had a trading volume of 1,250,738 shares, compared to its average volume of 661,866. The firm's 50 day moving average price is $6.64 and its 200-day moving average price is $6.79. Centerra Gold Inc. has a twelve month low of $4.47 and a twelve month high of $7.82. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 12.56 and a beta of 0.89.

Centerra Gold (NYSE:CGAU - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). The firm 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 in the previous year, the business posted $0.20 EPS. As a group, sell-side analysts predict that Centerra Gold Inc. will post 0.79 EPS for the current year.

Centerra Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $0.052 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This is a positive change from Centerra Gold's previous quarterly dividend of $0.05. This represents a $0.21 dividend on an annualized basis and a yield of 3.45%. Centerra Gold's dividend payout ratio is 43.75%.

Analyst Upgrades and Downgrades

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

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.