PCJ Investment Counsel Ltd. Cuts Stake in Centerra Gold Inc. (NYSE:CGAU)

PCJ Investment Counsel Ltd. cut its holdings in shares of Centerra Gold Inc. (NYSE:CGAU) by 33.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 291,208 shares of the company’s stock after selling 143,420 shares during the quarter. PCJ Investment Counsel Ltd.’s holdings in Centerra Gold were worth $1,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Centerra Gold during the fourth quarter valued at $258,000. Raymond James Financial Inc. purchased a new stake in shares of Centerra Gold during the fourth quarter valued at $268,000. Plato Investment Management Ltd boosted its position in shares of Centerra Gold by 47.3% during the fourth quarter. Plato Investment Management Ltd now owns 84,559 shares of the company’s stock valued at $483,000 after buying an additional 27,164 shares during the last quarter. U S Global Investors Inc. purchased a new stake in shares of Centerra Gold during the fourth quarter valued at $3,667,000. Finally, Atria Wealth Solutions Inc. boosted its position in shares of Centerra Gold by 11.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 50,000 shares of the company’s stock valued at $284,000 after buying an additional 5,000 shares during the last quarter. 55.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CGAU. Scotiabank dropped their target price on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, January 15th. Desjardins cut Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 13th. Finally, Cormark cut Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.00.

Centerra Gold Stock Down 2.5 %

NYSE CGAU opened at $5.77 on Friday. The stock’s 50-day moving average price is $6.09 and its 200-day moving average price is $6.45. Centerra Gold Inc. has a 52 week low of $5.46 and a 52 week high of $7.82. The company has a market capitalization of $1.21 billion, a P/E ratio of 16.01 and a beta of 0.92.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.17 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $316.92 million. Research analysts anticipate that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.28 annualized dividend and a dividend yield of 4.86%. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio (DPR) is 52.78%.

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.