Intact Investment Management Inc. Has $1.42 Million Holdings in Centerra Gold Inc. (NYSE:CGAU)

Intact Investment Management Inc. lessened its stake in Centerra Gold Inc. (NYSE:CGAU) by 18.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,300 shares of the company’s stock after selling 44,200 shares during the quarter. Intact Investment Management Inc. owned about 0.09% of Centerra Gold worth $1,417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CGAU. Quadrature Capital Ltd grew its position in shares of Centerra Gold by 118.5% during the 1st quarter. Quadrature Capital Ltd now owns 295,800 shares of the company’s stock worth $1,742,000 after buying an additional 160,400 shares during the period. Acadian Asset Management LLC boosted its stake in Centerra Gold by 309.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,275,800 shares of the company’s stock worth $7,527,000 after acquiring an additional 964,294 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Centerra Gold by 80.0% during the 1st quarter. Russell Investments Group Ltd. now owns 117,034 shares of the company’s stock worth $692,000 after acquiring an additional 52,014 shares during the last quarter. Old West Investment Management LLC bought a new position in Centerra Gold during the 2nd quarter worth approximately $1,344,000. Finally, Renaissance Technologies LLC boosted its stake in Centerra Gold by 29.0% during the 2nd quarter. Renaissance Technologies LLC now owns 327,800 shares of the company’s stock worth $2,203,000 after acquiring an additional 73,600 shares during the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. 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. Desjardins upgraded shares of Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st. Finally, CIBC reiterated a “neutral” rating and issued a $13.00 price objective (up from $11.00) on shares of Centerra Gold in a report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Centerra Gold has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Centerra Gold Trading Down 2.3 %

Shares of CGAU opened at $6.37 on Tuesday. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 13.27 and a beta of 0.98. Centerra Gold Inc. has a 1-year low of $4.47 and a 1-year high of $7.82. The company’s fifty day simple moving average is $7.07 and its 200 day simple moving average is $6.87.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Centerra Gold had a net margin of 8.31% and a return on equity of 10.39%. The company had revenue of $323.93 million during the quarter. During the same quarter in the prior year, the company posted $0.20 EPS. As a group, research analysts forecast that Centerra Gold Inc. will post 0.84 earnings per share for the current year.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.052 dividend. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Wednesday, November 13th. Centerra Gold’s payout ratio is currently 41.67%.

About Centerra Gold

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.