PCJ Investment Counsel Ltd. Trims Holdings in Centerra Gold Inc. (NYSE:CGAU)

Key Points

• PCJ Investment Counsel Ltd. reduced its stake in Centerra Gold Inc. by 43.1% in the first quarter, owning 165,710 shares after selling 125,498 shares.
• Centerra Gold announced a $0.07 quarterly dividend to be paid on September 4th, representing a 3.7% yield and a payout ratio of 60.61%.
• Analysts have rated Centerra Gold with a consensus of "Buy", with a target price of $13.00, indicating optimism about its future performance.

PCJ Investment Counsel Ltd. cut its stake in Centerra Gold Inc. (NYSE:CGAU - Free Report) by 43.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 165,710 shares of the company's stock after selling 125,498 shares during the quarter. PCJ Investment Counsel Ltd. owned about 0.08% of Centerra Gold worth $1,052,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new position in shares of Centerra Gold in the fourth quarter valued at $396,000. Raymond James Financial Inc. purchased a new position in shares of Centerra Gold in the fourth quarter valued at $268,000. Deutsche Bank AG grew its position in shares of Centerra Gold by 91.5% in the fourth quarter. Deutsche Bank AG now owns 23,218 shares of the company's stock valued at $132,000 after purchasing an additional 11,093 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Centerra Gold by 3.1% in the fourth quarter. Nuveen Asset Management LLC now owns 1,890,136 shares of the company's stock valued at $10,750,000 after purchasing an additional 57,609 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Centerra Gold by 15.6% in the fourth quarter. Geode Capital Management LLC now owns 525,967 shares of the company's stock valued at $2,993,000 after purchasing an additional 71,028 shares in the last quarter. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Centerra Gold Stock Up 1.2%

Centerra Gold stock opened at $7.55 on Friday. Centerra Gold Inc. has a 52 week low of $5.41 and a 52 week high of $7.82. The business has a 50-day simple moving average of $7.25 and a 200 day simple moving average of $6.68. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 0.49 and a beta of 0.80.

Centerra Gold (NYSE:CGAU - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.17 by $0.08. Centerra Gold had a return on equity of 9.15% and a net margin of 6.21%. The business had revenue of $288.30 million during the quarter, compared to analysts' expectations of $319.42 million. On average, research analysts anticipate that Centerra Gold Inc. will post 0.59 earnings per share for the current year.

Centerra Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 3.7%. Centerra Gold's dividend payout ratio (DPR) is currently 60.61%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CGAU shares. CIBC reiterated an "outperform" rating on shares of Centerra Gold in a research report on Tuesday, July 15th. Cibc World Mkts upgraded Centerra Gold from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 27th. National Bankshares restated an "outperform" rating on shares of Centerra Gold in a research report on Tuesday, June 24th. Finally, Scotiabank restated an "outperform" rating on shares of Centerra Gold in a research report on Monday, April 14th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $13.00.

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.

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