Intact Investment Management Inc. Acquires 70,200 Shares of Centerra Gold Inc. (NYSE:CGAU)

Intact Investment Management Inc. grew its holdings in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) by 35.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 267,500 shares of the company's stock after acquiring an additional 70,200 shares during the quarter. Intact Investment Management Inc. owned 0.13% of Centerra Gold worth $1,522,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Centerra Gold during the fourth quarter worth approximately $59,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Centerra Gold during the fourth quarter worth approximately $80,000. Capstone Investment Advisors LLC purchased a new position in shares of Centerra Gold during the third quarter worth approximately $89,000. HighTower Advisors LLC purchased a new position in shares of Centerra Gold during the third quarter worth approximately $127,000. Finally, Entropy Technologies LP purchased a new position in shares of Centerra Gold during the fourth quarter worth approximately $177,000. 55.40% of the stock is owned by hedge funds and other institutional investors.

Centerra Gold Price Performance

Centerra Gold stock traded up $0.11 during mid-day trading on Wednesday, reaching $6.25. 824,081 shares of the company traded hands, compared to its average volume of 771,678. The firm's 50 day moving average price is $6.10 and its 200 day moving average price is $6.36. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 17.35 and a beta of 0.92. Centerra Gold Inc. has a 52-week low of $5.46 and a 52-week high of $7.82.

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Centerra Gold (NYSE:CGAU - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.03). The company had revenue of $302.40 million for the quarter, compared to analysts' expectations of $316.92 million. Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. On average, sell-side analysts anticipate that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $0.07 per share. This is an increase from Centerra Gold's previous quarterly dividend of $0.05. This represents a $0.28 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Thursday, March 13th. Centerra Gold's payout ratio is presently 52.78%.

Analyst Ratings Changes

CGAU has been the topic of several recent analyst reports. Desjardins cut shares of Centerra Gold from a "moderate buy" rating to a "hold" rating in a report on Thursday, February 13th. Scotiabank cut their target price 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. Finally, Cormark cut shares of Centerra Gold from a "moderate buy" rating to a "hold" rating in a report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Centerra Gold has an average rating of "Hold" and a consensus price target of $11.00.

Centerra Gold 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.