Intact Investment Management Inc. Sells 414,600 Shares of Centerra Gold Inc. (NYSE:CGAU)

Intact Investment Management Inc. reduced its holdings in Centerra Gold Inc. (NYSE:CGAU) by 63.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 241,500 shares of the company’s stock after selling 414,600 shares during the quarter. Intact Investment Management Inc. owned 0.11% of Centerra Gold worth $1,624,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new stake in Centerra Gold in the 4th quarter valued at $98,000. Virtu Financial LLC bought a new stake in shares of Centerra Gold in the first quarter valued at about $113,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Centerra Gold during the second quarter worth about $154,000. Artemis Investment Management LLP bought a new position in shares of Centerra Gold during the second quarter worth about $268,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Centerra Gold by 943.8% during the fourth quarter. Russell Investments Group Ltd. now owns 65,020 shares of the company’s stock worth $390,000 after buying an additional 58,791 shares in the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

Centerra Gold Trading Down 1.0 %

CGAU stock traded down $0.07 during mid-day trading on Friday, hitting $7.08. 388,976 shares of the company were exchanged, compared to its average volume of 538,695. Centerra Gold Inc. has a 1-year low of $4.47 and a 1-year high of $7.51. The business has a 50 day simple moving average of $6.84 and a 200-day simple moving average of $6.38. The stock has a market capitalization of $1.52 billion, a PE ratio of 26.22 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.07. Centerra Gold had a return on equity of 10.77% and a net margin of 10.68%. The firm had revenue of $282.31 million for the quarter. During the same quarter in the previous year, the business earned ($0.20) EPS. Equities research analysts expect that Centerra Gold Inc. will post 0.75 earnings per share for the current year.

Centerra Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.051 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.20 dividend on an annualized basis and a yield of 2.88%. Centerra Gold’s dividend payout ratio (DPR) is presently 74.07%.

Wall Street Analyst Weigh In

CGAU has been the topic of several recent research reports. Cibc World Mkts lowered shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Scotiabank lifted their target price on Centerra Gold from $8.00 to $9.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 23rd. Finally, CIBC reissued a “neutral” rating and set a $13.00 price target (up from $11.00) on shares of Centerra Gold in a research report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.80.

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.