Connor Clark & Lunn Investment Management Ltd. trimmed its position in Centerra Gold Inc. (NYSE:CGAU - Free Report) by 42.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,509,937 shares of the company's stock after selling 1,880,068 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 1.20% of Centerra Gold worth $14,265,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in CGAU. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Centerra Gold by 8.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,308 shares of the company's stock valued at $419,000 after acquiring an additional 4,373 shares during the period. Atria Wealth Solutions Inc. lifted its position in Centerra Gold by 11.1% during the 4th quarter. Atria Wealth Solutions Inc. now owns 50,000 shares of the company's stock valued at $284,000 after purchasing an additional 5,000 shares during the period. Toronto Dominion Bank lifted its position in Centerra Gold by 22.8% during the 3rd quarter. Toronto Dominion Bank now owns 33,921 shares of the company's stock valued at $243,000 after purchasing an additional 6,307 shares during the period. SG Americas Securities LLC bought a new position in shares of Centerra Gold in the 4th quarter valued at about $59,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Centerra Gold during the 3rd quarter worth approximately $89,000. 55.40% of the stock is owned by institutional investors and hedge funds.
Centerra Gold Price Performance
CGAU traded up $0.14 during mid-day trading on Monday, hitting $5.98. The stock had a trading volume of 1,157,873 shares, compared to its average volume of 767,564. The stock's fifty day simple moving average is $6.09 and its 200-day simple moving average is $6.37. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 16.60 and a beta of 0.92. Centerra Gold Inc. has a 1-year low of $5.46 and a 1-year high of $7.82.
Centerra Gold (NYSE:CGAU - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.03). The firm had revenue of $302.40 million during the quarter, compared to the consensus estimate of $316.92 million. Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. As a group, research analysts expect that Centerra Gold Inc. will post 0.59 earnings per share for the current fiscal year.
Centerra Gold Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Centerra Gold's previous quarterly dividend of $0.05. This represents a $0.28 annualized dividend and a dividend yield of 4.69%. Centerra Gold's payout ratio is currently 52.78%.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the stock. Scotiabank cut their price objective on shares of Centerra Gold from $10.00 to $9.00 and set a "sector outperform" rating on the stock in a report on Wednesday, January 15th. Cormark downgraded Centerra Gold from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Finally, Desjardins cut Centerra Gold from a "moderate buy" rating to a "hold" rating in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $11.00.
View Our Latest Stock Analysis on Centerra Gold
Centerra Gold Company Profile
(
Free Report)
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.
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