Hillsdale Investment Management Inc. Trims Stock Position in Centerra Gold Inc. $CGAU

Hillsdale Investment Management Inc. decreased its stake in Centerra Gold Inc. (NYSE:CGAU) by 8.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,227,935 shares of the company’s stock after selling 285,940 shares during the period. Centerra Gold accounts for about 1.6% of Hillsdale Investment Management Inc.’s holdings, making the stock its 10th biggest holding. Hillsdale Investment Management Inc. owned 1.62% of Centerra Gold worth $57,393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CGAU. Polar Asset Management Partners Inc. bought a new stake in Centerra Gold in the third quarter valued at approximately $2,036,000. JPMorgan Chase & Co. raised its holdings in Centerra Gold by 146.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,367,172 shares of the company’s stock worth $14,670,000 after purchasing an additional 811,803 shares during the last quarter. Intact Investment Management Inc. raised its holdings in Centerra Gold by 166.7% during the 4th quarter. Intact Investment Management Inc. now owns 1,514,820 shares of the company’s stock worth $21,807,000 after purchasing an additional 946,920 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. lifted its position in shares of Centerra Gold by 99.8% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 94,100 shares of the company’s stock worth $1,366,000 after purchasing an additional 47,000 shares during the period. Finally, U S Global Investors Inc. acquired a new position in shares of Centerra Gold in the 4th quarter worth approximately $10,381,000. 55.40% of the stock is currently owned by institutional investors.

Centerra Gold Price Performance

Centerra Gold stock opened at $15.87 on Tuesday. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 5.12, a PEG ratio of 0.61 and a beta of 0.81. Centerra Gold Inc. has a 52-week low of $6.71 and a 52-week high of $21.17. The stock’s 50 day moving average price is $16.70 and its two-hundred day moving average price is $17.40. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.60 and a current ratio of 2.41.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. Centerra Gold had a net margin of 40.32% and a return on equity of 14.90%. The company had revenue of $484.70 million during the quarter, compared to analyst estimates of $373.47 million. On average, equities analysts predict that Centerra Gold Inc. will post 1.61 earnings per share for the current year.

Centerra Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.07 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.28 annualized dividend and a dividend yield of 1.8%. Centerra Gold’s dividend payout ratio is currently 6.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Centerra Gold in a research report on Friday, March 27th. Zacks Research cut shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Wall Street Zen raised shares of Centerra Gold from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Finally, Scotiabank reiterated an “outperform” rating on shares of Centerra Gold in a report on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.67.

Centerra Gold Company Profile

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.