Centerra Gold Inc. (NYSE:CGAU) Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. cut its holdings in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) by 74.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,407,909 shares of the company's stock after selling 4,016,113 shares during the period. Hillsdale Investment Management Inc. owned about 0.67% of Centerra Gold worth $8,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in Centerra Gold during the fourth quarter valued at $59,000. Capstone Investment Advisors LLC acquired a new stake in shares of Centerra Gold during the 3rd quarter valued at about $89,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Centerra Gold in the 4th quarter valued at about $80,000. HighTower Advisors LLC acquired a new position in Centerra Gold in the 3rd quarter worth about $127,000. Finally, Verition Fund Management LLC acquired a new position in Centerra Gold in the 3rd quarter worth about $206,000. 55.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Desjardins cut Centerra Gold from a "moderate buy" rating to a "hold" rating in a research report on Thursday, February 13th. Scotiabank decreased 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. National Bank Financial upgraded shares of Centerra Gold to a "strong-buy" rating in a research report on Friday, March 21st. Cormark downgraded shares of Centerra Gold from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, CIBC reiterated a "neutral" rating on shares of Centerra Gold in a report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $11.00.

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Centerra Gold Stock Down 0.9 %

CGAU traded down $0.06 during trading on Wednesday, reaching $6.28. The company's stock had a trading volume of 806,997 shares, compared to its average volume of 782,642. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 17.43 and a beta of 0.92. The firm has a fifty day simple moving average of $6.15 and a two-hundred day simple moving average of $6.34. 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 announced 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). Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. The company had revenue of $302.40 million for the quarter, compared to analysts' expectations of $316.92 million. As a group, equities analysts forecast that Centerra Gold Inc. will post 0.59 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 4.46%. This is a positive change from Centerra Gold's previous quarterly dividend of $0.05. The ex-dividend date is Thursday, March 13th. Centerra Gold's payout ratio is presently 52.78%.

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.