Intact Investment Management Inc. Purchases 70,200 Shares of Centerra Gold Inc. (NYSE:CGAU)

Intact Investment Management Inc. grew its position in shares of Centerra Gold Inc. (NYSE:CGAU) by 35.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 267,500 shares of the company’s stock after buying an additional 70,200 shares during the quarter. Intact Investment Management Inc.’s holdings in Centerra Gold were worth $1,522,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Plato Investment Management Ltd bought a new stake in shares of Centerra Gold during the 3rd quarter worth $412,000. PCJ Investment Counsel Ltd. raised its position in Centerra Gold by 59.6% in the third quarter. PCJ Investment Counsel Ltd. now owns 434,628 shares of the company’s stock worth $3,120,000 after acquiring an additional 162,382 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Centerra Gold by 36.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock valued at $31,514,000 after acquiring an additional 1,175,000 shares during the last quarter. Bank of Montreal Can grew its position in shares of Centerra Gold by 59.0% during the 3rd quarter. Bank of Montreal Can now owns 3,869,035 shares of the company’s stock valued at $28,690,000 after acquiring an additional 1,435,794 shares during the period. Finally, Quantbot Technologies LP increased its stake in shares of Centerra Gold by 129.6% during the 3rd quarter. Quantbot Technologies LP now owns 57,796 shares of the company’s stock worth $414,000 after purchasing an additional 32,621 shares during the last quarter. Institutional investors own 55.40% of the company’s stock.

Centerra Gold Price Performance

NYSE:CGAU opened at $5.84 on Friday. Centerra Gold Inc. has a 1 year low of $5.46 and a 1 year high of $7.82. The stock’s fifty day moving average price is $6.09 and its two-hundred day moving average price is $6.39. The company has a market cap of $1.23 billion, a P/E ratio of 16.21 and a beta of 0.92.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. The company had revenue of $302.40 million for the quarter, compared to analysts’ expectations of $316.92 million. On average, analysts expect that Centerra Gold Inc. will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $0.07 dividend. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date of this dividend is Thursday, March 13th. Centerra Gold’s dividend payout ratio (DPR) is 52.78%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Scotiabank decreased their target price on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a research report on Wednesday, January 15th. Cormark lowered Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, Desjardins cut Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.00.

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.