CIBC Asset Management Inc Has $1.89 Million Position in Centerra Gold Inc. (NYSE:CGAU)

CIBC Asset Management Inc lessened its holdings in Centerra Gold Inc. (NYSE:CGAU) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 263,039 shares of the company’s stock after selling 4,268 shares during the period. CIBC Asset Management Inc’s holdings in Centerra Gold were worth $1,889,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Centerra Gold by 12.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock valued at $96,000 after purchasing an additional 1,573 shares during the last quarter. Hsbc Holdings PLC grew its stake in Centerra Gold by 4.1% in the 2nd quarter. Hsbc Holdings PLC now owns 48,101 shares of the company’s stock valued at $325,000 after buying an additional 1,895 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Centerra Gold by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 178,489 shares of the company’s stock valued at $1,199,000 after acquiring an additional 2,120 shares during the period. TD Asset Management Inc lifted its position in Centerra Gold by 0.7% during the second quarter. TD Asset Management Inc now owns 587,062 shares of the company’s stock worth $3,947,000 after acquiring an additional 4,356 shares during the last quarter. Finally, CWM LLC bought a new stake in shares of Centerra Gold during the third quarter worth approximately $57,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

Analyst Ratings Changes

Separately, Desjardins upgraded Centerra Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.00.

Centerra Gold Stock Up 1.1 %

NYSE CGAU opened at $6.03 on Wednesday. The firm has a 50-day moving average price of $6.91 and a two-hundred day moving average price of $6.86. Centerra Gold Inc. has a 12-month low of $4.47 and a 12-month high of $7.82. The company has a market capitalization of $1.27 billion, a P/E ratio of 12.55 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. The company had revenue of $323.93 million during the quarter. During the same period in the prior year, the business posted $0.20 EPS. Equities analysts expect that Centerra Gold Inc. will post 0.81 EPS for the current year.

Centerra Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.052 per share. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Wednesday, November 13th. Centerra Gold’s dividend payout ratio is 41.67%.

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.