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

Intact Investment Management Inc. cut its holdings in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) by 28.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versor Investments LP acquired a new position in Centerra Gold during the third quarter worth about $52,000. Heron Bay Capital Management acquired a new position in Centerra Gold in the 4th quarter valued at about $77,000. Hsbc Holdings PLC boosted its holdings in Centerra Gold by 134.2% in the 3rd 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 last quarter. Insigneo Advisory Services LLC acquired a new position in Centerra Gold in the 3rd quarter valued at about $223,000. Finally, Aigen Investment Management LP acquired a new position in Centerra Gold in the 3rd quarter valued at about $225,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CGAU has been the topic of a number of research analyst reports. CIBC boosted their price target on shares of Centerra Gold from $9.50 to $11.00 and gave the company an "outperformer" rating in a research note on Monday, April 15th. BMO Capital Markets initiated coverage on shares of Centerra Gold in a report on Wednesday, February 21st. They issued an "outperform" rating for the company. Raymond James decreased their price target on shares of Centerra Gold from $12.00 to $11.00 and set an "outperform" rating for the company in a research note on Friday, December 29th. Finally, National Bank Financial restated an "outperform overweight" rating on shares of Centerra Gold in a research report on Monday, April 8th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $9.78.

Centerra Gold Trading Up 1.1 %

Shares of Centerra Gold stock traded up $0.07 during mid-day trading on Friday, hitting $6.36. 426,757 shares of the stock were exchanged, compared to its average volume of 541,230. The company has a 50-day simple moving average of $5.73 and a 200 day simple moving average of $5.59. Centerra Gold Inc. has a twelve month low of $4.47 and a twelve month high of $7.08. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -17.19 and a beta of 0.98.

Centerra Gold (NYSE:CGAU - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). Centerra Gold had a positive return on equity of 0.62% and a negative net margin of 7.43%. The company had revenue of $340.00 million during the quarter. Equities research 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. Investors of record on Wednesday, March 13th were issued a $0.0518 dividend. This is a positive change from Centerra Gold's previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, March 12th. This represents a $0.21 annualized dividend and a yield of 3.26%. Centerra Gold's dividend payout ratio (DPR) is presently -43.24%.

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.