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

Intact Investment Management Inc. grew its holdings in Centerra Gold Inc. (NYSE:CGAU - Free Report) by 35.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 267,500 shares of the company's stock after purchasing an additional 70,200 shares during the quarter. Intact Investment Management Inc. owned about 0.13% of Centerra Gold worth $1,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Amundi lifted its stake in shares of Centerra Gold by 168.6% in the 4th quarter. Amundi now owns 2,628,623 shares of the company's stock valued at $15,377,000 after purchasing an additional 1,650,160 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Centerra Gold in the 4th quarter valued at about $258,000. Raymond James Financial Inc. acquired a new position in shares of Centerra Gold in the 4th quarter valued at about $268,000. Plato Investment Management Ltd lifted its stake in shares of Centerra Gold by 47.3% in the 4th quarter. Plato Investment Management Ltd now owns 84,559 shares of the company's stock valued at $483,000 after purchasing an additional 27,164 shares during the period. Finally, U S Global Investors Inc. acquired a new position in Centerra Gold during the 4th quarter worth approximately $3,667,000. 55.40% of the stock is owned by institutional investors and hedge funds.

Centerra Gold Stock Performance

CGAU traded up $0.17 during midday trading on Tuesday, reaching $6.15. 1,327,736 shares of the company were exchanged, compared to its average volume of 771,468. The company's fifty day moving average price is $6.10 and its 200 day moving average price is $6.36. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 17.07 and a beta of 0.92. Centerra Gold Inc. has a one year low of $5.46 and a one year 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 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 the consensus estimate of $316.92 million. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. As a group, sell-side analysts anticipate that Centerra Gold Inc. will post 0.59 earnings per share for the current fiscal 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 issued a dividend of $0.07 per share. This is a positive change from Centerra Gold's previous quarterly dividend of $0.05. This represents a $0.28 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date of this dividend is Thursday, March 13th. Centerra Gold's payout ratio is currently 52.78%.

Analyst Ratings Changes

A number of research analysts recently weighed in on CGAU shares. Cormark downgraded Centerra Gold from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Scotiabank dropped their price target on Centerra Gold from $10.00 to $9.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, January 15th. Finally, Desjardins downgraded 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $11.00.

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.