Centerra Gold Inc. (NYSE:CGAU) Stake Lowered by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. cut its holdings in Centerra Gold Inc. (NYSE:CGAU) by 74.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,407,909 shares of the company’s stock after selling 4,016,113 shares during the period. Hillsdale Investment Management Inc.’s holdings in Centerra Gold were worth $8,003,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CGAU. Amundi boosted its holdings in Centerra Gold by 168.6% in the fourth quarter. Amundi now owns 2,628,623 shares of the company’s stock worth $15,377,000 after purchasing an additional 1,650,160 shares in the last quarter. Bank of Montreal Can boosted its holdings in Centerra Gold by 59.0% in the third quarter. Bank of Montreal Can now owns 3,869,035 shares of the company’s stock worth $28,690,000 after purchasing an additional 1,435,794 shares in the last quarter. American Century Companies Inc. boosted its holdings in Centerra Gold by 34.1% in the fourth quarter. American Century Companies Inc. now owns 3,291,860 shares of the company’s stock worth $18,733,000 after purchasing an additional 836,777 shares in the last quarter. U S Global Investors Inc. bought a new stake in Centerra Gold in the fourth quarter worth $3,667,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Centerra Gold during the third quarter valued at about $4,454,000. 55.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CGAU shares. Scotiabank decreased their price target on shares of Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a report on Wednesday, January 15th. Desjardins cut shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday, February 13th. Finally, Cormark cut shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a 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, the company has a consensus rating of “Hold” and a consensus target price of $11.00.

Centerra Gold Stock Performance

Shares of CGAU opened at $6.09 on Friday. The company has a 50-day simple moving average of $6.13 and a 200-day simple moving average of $6.35. The firm has a market capitalization of $1.28 billion, a P/E ratio of 16.90 and a beta of 0.92. Centerra Gold Inc. has a 52 week low of $5.46 and a 52 week high of $7.82.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The company had revenue of $302.40 million for the quarter, compared to analyst estimates of $316.92 million. Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. As a group, equities analysts forecast that Centerra Gold Inc. will post 0.59 earnings per share 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 given a dividend of $0.07 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.60%. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio is currently 52.78%.

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.