Massachusetts Financial Services Co. MA Takes $60,000 Position in Centerra Gold Inc. (NYSE:CGAU)

Massachusetts Financial Services Co. MA bought a new stake in Centerra Gold Inc. (NYSE:CGAU) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,593 shares of the company’s stock, valued at approximately $60,000.

A number of other hedge funds have also modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Centerra Gold during the fourth quarter worth about $59,000. Wilmington Savings Fund Society FSB acquired a new stake in Centerra Gold during the fourth quarter worth about $80,000. HighTower Advisors LLC acquired a new stake in Centerra Gold during the third quarter worth about $127,000. Entropy Technologies LP acquired a new stake in Centerra Gold during the fourth quarter worth about $177,000. Finally, Verition Fund Management LLC acquired a new stake in Centerra Gold during the third quarter worth about $206,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. CIBC reaffirmed a “neutral” rating on shares of Centerra Gold in a research note on Thursday, March 20th. Cormark lowered shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Scotiabank lowered their target price on shares of Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a research note on Wednesday, January 15th. Raymond James reaffirmed an “outperform” rating on shares of Centerra Gold in a research note on Friday, April 4th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Centerra Gold in a research note on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $11.00.

Centerra Gold Stock Performance

Shares of CGAU opened at $6.02 on Thursday. The stock has a market capitalization of $1.26 billion, a P/E ratio of 16.72 and a beta of 0.81. The company’s fifty day moving average is $6.14 and its two-hundred day moving average is $6.28. Centerra Gold Inc. has a 1 year low of $5.41 and a 1 year high of $7.82.

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

Centerra Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $0.07 dividend. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.28 annualized dividend and a yield of 4.65%. The ex-dividend date was Thursday, March 13th. Centerra Gold’s payout ratio is currently 52.78%.

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.