Intact Investment Management Inc. Sells 616,600 Shares of Centerra Gold Inc. (NYSE:CGAU)

Intact Investment Management Inc. reduced its stake in shares of Centerra Gold Inc. (NYSE:CGAU) by 28.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,547,500 shares of the company’s stock after selling 616,600 shares during the quarter. Intact Investment Management Inc. owned about 0.72% of Centerra Gold worth $9,238,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CGAU. Versor Investments LP purchased a new position in shares of Centerra Gold during the third quarter valued at approximately $52,000. Heron Bay Capital Management purchased a new stake in shares of Centerra Gold in the fourth quarter valued at approximately $77,000. Hsbc Holdings PLC boosted its holdings in shares of Centerra Gold by 134.2% in the third 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 purchased a new stake in shares of Centerra Gold in the third quarter valued at approximately $223,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Centerra Gold in the third quarter valued at approximately $225,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Centerra Gold Stock Up 1.1 %

Centerra Gold stock traded up $0.07 during mid-day trading on Friday, reaching $6.36. 426,757 shares of the company were exchanged, compared to its average volume of 541,230. The business has a fifty day moving average of $5.73 and a 200 day moving average of $5.58. Centerra Gold Inc. has a 12-month low of $4.47 and a 12-month high of $7.08.

Centerra Gold (NYSE:CGAU) last posted its earnings results on Thursday, February 22nd. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The company 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%. On average, analysts forecast that Centerra Gold Inc. will post 0.55 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders 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 is an increase from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.26%. Centerra Gold’s dividend payout ratio is presently -43.24%.

Wall Street Analyst Weigh In

CGAU has been the subject of a number of research reports. BMO Capital Markets initiated coverage on Centerra Gold in a report on Wednesday, February 21st. They issued an “outperform” rating for the company. CIBC boosted their price target on Centerra Gold from $9.50 to $11.00 and gave the company an “outperformer” rating in a report on Monday, April 15th. Raymond James lowered their target price on Centerra Gold from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, December 29th. Finally, National Bank Financial restated an “outperform overweight” rating on shares of Centerra Gold in a report on Monday, April 8th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price 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.