Intact Investment Management Inc. Lowers Position in Centerra Gold Inc. (NYSE:CGAU)

Intact Investment Management Inc. lessened its stake in Centerra Gold Inc. (NYSE:CGAU - Free Report) by 50.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,500 shares of the company's stock after selling 134,000 shares during the period. Intact Investment Management Inc. owned approximately 0.06% of Centerra Gold worth $847,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CGAU. Donald Smith & CO. Inc. lifted its position in Centerra Gold by 30.1% in the 4th quarter. Donald Smith & CO. Inc. now owns 8,723,060 shares of the company's stock worth $49,634,000 after buying an additional 2,017,756 shares during the last quarter. Amundi lifted its holdings in shares of Centerra Gold by 168.6% in the 4th quarter. Amundi now owns 2,628,623 shares of the company's stock worth $15,377,000 after acquiring an additional 1,650,160 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Centerra Gold by 24.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,808,773 shares of the company's stock valued at $33,028,000 after purchasing an additional 1,126,825 shares in the last quarter. Man Group plc boosted its stake in shares of Centerra Gold by 43.2% in the 4th quarter. Man Group plc now owns 3,038,739 shares of the company's stock valued at $17,283,000 after purchasing an additional 916,255 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Centerra Gold by 34.1% during the 4th quarter. American Century Companies Inc. now owns 3,291,860 shares of the company's stock valued at $18,733,000 after purchasing an additional 836,777 shares during the last quarter. Institutional investors own 55.40% of the company's stock.

Centerra Gold Stock Down 2.7%

Shares of NYSE:CGAU traded down $0.20 during midday trading on Tuesday, hitting $7.05. 844,093 shares of the stock traded hands, compared to its average volume of 906,273. The stock has a market capitalization of $1.45 billion, a PE ratio of 37.08, a P/E/G ratio of 0.30 and a beta of 0.82. Centerra Gold Inc. has a one year low of $5.41 and a one year high of $7.82. The business's 50 day moving average is $6.96 and its two-hundred day moving average is $6.36.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.12 earnings per share for the quarter, hitting analysts' consensus estimates of $0.12. The firm had revenue of $299.50 million for the quarter, compared to analyst estimates of $288.25 million. Centerra Gold had a return on equity of 8.71% and a net margin of 3.68%. As a group, sell-side analysts forecast that Centerra Gold Inc. will post 0.59 earnings per share for the current year.

Centerra Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend was Thursday, May 22nd. Centerra Gold's payout ratio is currently 105.26%.

Analysts Set New Price Targets

Several research firms have weighed in on CGAU. National Bank Financial raised shares of Centerra Gold to a "strong-buy" rating in a research note on Friday, March 21st. Raymond James Financial reissued an "outperform" rating on shares of Centerra Gold in a research note on Friday, April 4th. CIBC restated a "neutral" rating on shares of Centerra Gold in a report on Thursday, March 20th. Cormark cut Centerra Gold from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Finally, Scotiabank reiterated an "outperform" rating on shares of Centerra Gold in a research report on Monday, April 14th. Three analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Centerra Gold has an average rating of "Moderate Buy" and an average target price of $12.00.

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.