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

PCJ Investment Counsel Ltd. lowered its stake in Centerra Gold Inc. (NYSE:CGAU) by 33.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 291,208 shares of the company’s stock after selling 143,420 shares during the quarter. PCJ Investment Counsel Ltd. owned 0.14% of Centerra Gold worth $1,655,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in Centerra Gold in the fourth quarter valued at approximately $59,000. Capstone Investment Advisors LLC bought a new stake in Centerra Gold in the third quarter valued at approximately $89,000. Wilmington Savings Fund Society FSB bought a new stake in Centerra Gold in the fourth quarter valued at approximately $80,000. HighTower Advisors LLC bought a new stake in Centerra Gold in the third quarter valued at approximately $127,000. Finally, Verition Fund Management LLC bought a new stake in Centerra Gold in the third quarter valued at approximately $206,000. Institutional investors own 55.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Desjardins downgraded Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday, February 13th. Cormark downgraded Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, 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 report on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Centerra Gold has a consensus rating of “Hold” and an average price target of $11.00.

Centerra Gold Trading Down 2.5 %

CGAU opened at $5.77 on Friday. The stock has a fifty day simple moving average of $6.09 and a two-hundred day simple moving average of $6.45. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 16.01 and a beta of 0.92. Centerra Gold Inc. has a 12-month low of $5.46 and a 12-month high of $7.82.

Centerra Gold (NYSE:CGAU) last posted 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). The firm had revenue of $302.40 million during the quarter, compared to the consensus estimate of $316.92 million. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. On average, analysts predict that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Increases Dividend

The business also recently announced 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. This is a boost 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 4.86%. The ex-dividend date of this dividend is Thursday, March 13th. Centerra Gold’s dividend payout ratio is currently 52.78%.

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.