Intact Investment Management Inc. Buys 946,920 Shares of Centerra Gold Inc. $CGAU

Intact Investment Management Inc. increased its stake in Centerra Gold Inc. (NYSE:CGAU) by 166.7% during the fourth quarter, Holdings Channel reports. The firm owned 1,514,820 shares of the company’s stock after acquiring an additional 946,920 shares during the period. Intact Investment Management Inc.’s holdings in Centerra Gold were worth $21,807,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Burkett Financial Services LLC bought a new position in shares of Centerra Gold in the third quarter worth $30,000. TD Waterhouse Canada Inc. increased its position in shares of Centerra Gold by 1,106.5% in the third quarter. TD Waterhouse Canada Inc. now owns 2,980 shares of the company’s stock worth $33,000 after purchasing an additional 2,733 shares during the period. Osaic Holdings Inc. increased its position in shares of Centerra Gold by 63.0% in the second quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock worth $34,000 after purchasing an additional 1,839 shares during the period. State of Wyoming bought a new position in shares of Centerra Gold in the third quarter worth $90,000. Finally, Numerai GP LLC bought a new position in shares of Centerra Gold in the third quarter worth $108,000. Institutional investors own 55.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on CGAU shares. Scotiabank raised their price target on Centerra Gold from $19.00 to $21.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. Wall Street Zen cut Centerra Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 25th. BMO Capital Markets upgraded Centerra Gold from a “hold” rating to an “outperform” rating in a research report on Tuesday, January 20th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Centerra Gold in a research report on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Centerra Gold in a research report on Friday, March 27th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.67.

Centerra Gold Stock Performance

Centerra Gold stock opened at $17.28 on Monday. Centerra Gold Inc. has a 12-month low of $6.30 and a 12-month high of $21.17. The company has a quick ratio of 1.60, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $18.50 and its two-hundred day moving average price is $15.92. The stock has a market cap of $3.45 billion, a PE ratio of 5.57, a P/E/G ratio of 0.87 and a beta of 0.80.

Centerra Gold (NYSE:CGAU) last released its earnings results on Wednesday, April 29th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Centerra Gold had a return on equity of 14.90% and a net margin of 40.32%.The firm had revenue of $484.70 million for the quarter, compared to analysts’ expectations of $373.47 million. As a group, analysts expect that Centerra Gold Inc. will post 1.75 earnings per share for the current fiscal year.

Centerra Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Thursday, May 21st. Centerra Gold’s payout ratio is currently 6.77%.

About Centerra Gold

Centerra Gold Inc is a gold mining company incorporated in Canada and headquartered in Toronto. The company specializes in the exploration, development and operation of precious metals properties, with a focus on gold production. Centerra’s portfolio includes the Mount Milligan mine in British Columbia, Canada, and the Otjikoto mine in Namibia. Both operations produce gold and copper concentrates and employ modern mining methods and processing facilities to optimize recovery rates and minimize environmental impact.

In addition to its producing assets, Centerra is advancing the development of its Greenstone Gold Project in Ontario, Canada, which, upon completion, is expected to become one of Canada’s largest gold mines.