CIBC Asset Management Inc Decreases Stock Holdings in Centerra Gold Inc. (NYSE:CGAU)

CIBC Asset Management Inc lowered its stake in Centerra Gold Inc. (NYSE:CGAU) by 0.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 260,970 shares of the company’s stock after selling 2,069 shares during the quarter. CIBC Asset Management Inc owned 0.12% of Centerra Gold worth $1,482,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CGAU. Bank of Montreal Can raised its holdings in shares of Centerra Gold by 59.0% during the third quarter. Bank of Montreal Can now owns 3,869,035 shares of the company’s stock valued at $28,690,000 after acquiring an additional 1,435,794 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Centerra Gold by 36.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock valued at $31,514,000 after purchasing an additional 1,175,000 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Centerra Gold in the 3rd quarter valued at $4,454,000. Geode Capital Management LLC boosted its stake in Centerra Gold by 378.7% during the 3rd quarter. Geode Capital Management LLC now owns 454,939 shares of the company’s stock worth $4,152,000 after purchasing an additional 359,905 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Centerra Gold by 131.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 588,681 shares of the company’s stock worth $3,346,000 after buying an additional 334,719 shares in the last quarter. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Centerra Gold Stock Down 7.2 %

Shares of CGAU opened at $6.17 on Friday. The stock has a fifty day simple moving average of $6.07 and a two-hundred day simple moving average of $6.51. The company has a market capitalization of $1.30 billion, a PE ratio of 12.86 and a beta of 0.91. Centerra Gold Inc. has a 52-week low of $4.88 and a 52-week high of $7.82.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.03). The firm had revenue of $302.40 million for the quarter, compared to analyst estimates of $316.92 million. Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. As a group, equities analysts anticipate that Centerra Gold Inc. will post 0.73 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $0.07 dividend. The ex-dividend date is Thursday, March 13th. 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 yield of 4.54%. Centerra Gold’s dividend payout ratio is currently 58.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Scotiabank decreased their price target on shares of Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, January 15th. Desjardins lowered shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $11.00.

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.