Intact Investment Management Inc. Has $9.24 Million Holdings in Centerra Gold Inc. (NYSE:CGAU)

Intact Investment Management Inc. cut its position in Centerra Gold Inc. (NYSE:CGAU) by 28.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,547,500 shares of the company’s stock after selling 616,600 shares during the quarter. Intact Investment Management Inc.’s holdings in Centerra Gold were worth $9,238,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Versor Investments LP bought a new stake in Centerra Gold in the 3rd quarter valued at $52,000. Heron Bay Capital Management bought a new stake in Centerra Gold in the 4th quarter valued at $77,000. Hsbc Holdings PLC boosted its holdings in Centerra Gold by 134.2% in the 3rd quarter. Hsbc Holdings PLC now owns 35,587 shares of the company’s stock valued at $174,000 after purchasing an additional 20,389 shares during the period. Insigneo Advisory Services LLC bought a new stake in Centerra Gold in the 3rd quarter valued at $223,000. Finally, Aigen Investment Management LP bought a new stake in Centerra Gold in the 3rd quarter valued at $225,000. 55.40% of the stock is owned by institutional investors.

Centerra Gold Trading Up 1.1 %

Shares of Centerra Gold stock traded up $0.07 during mid-day trading on Friday, reaching $6.36. 426,757 shares of the stock were exchanged, compared to its average volume of 541,230. The firm has a 50-day simple moving average of $5.73 and a 200 day simple moving average of $5.58. Centerra Gold Inc. has a fifty-two week low of $4.47 and a fifty-two week high of $7.08.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Thursday, February 22nd. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The firm had revenue of $340.00 million for the quarter. Centerra Gold had a positive return on equity of 0.62% and a negative net margin of 7.43%. Research analysts expect that Centerra Gold Inc. will post 0.55 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 13th were given a dividend of $0.0518 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.26%. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio (DPR) is -43.24%.

Analyst Ratings Changes

A number of analysts have weighed in on CGAU shares. Raymond James reduced their price target on shares of Centerra Gold from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, December 29th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Centerra Gold in a report on Monday, April 8th. CIBC raised their price objective on shares of Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a report on Monday, April 15th. Finally, BMO Capital Markets assumed coverage on shares of Centerra Gold in a report on Wednesday, February 21st. They set an “outperform” rating for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Centerra Gold presently has a consensus rating of “Buy” and a consensus price target of $9.78.

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.