Cibc World Market Inc. Sells 309,060 Shares of Centerra Gold Inc. (NYSE:CGAU)

Cibc World Market Inc. reduced its stake in shares of Centerra Gold Inc. (NYSE:CGAUGet Rating) by 74.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,745 shares of the company’s stock after selling 309,060 shares during the quarter. Cibc World Market Inc.’s holdings in Centerra Gold were worth $738,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. UBS Group AG bought a new position in shares of Centerra Gold during the first quarter valued at approximately $204,000. Y Intercept Hong Kong Ltd bought a new position in shares of Centerra Gold during the second quarter valued at approximately $209,000. Vontobel Holding Ltd. grew its stake in shares of Centerra Gold by 125.9% during the first quarter. Vontobel Holding Ltd. now owns 23,743 shares of the company’s stock valued at $233,000 after buying an additional 13,233 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Centerra Gold during the first quarter valued at approximately $408,000. Finally, Aigen Investment Management LP bought a new position in shares of Centerra Gold during the second quarter valued at approximately $513,000. 37.84% of the stock is owned by institutional investors.

Centerra Gold Stock Down 1.8 %

Centerra Gold stock opened at $5.02 on Tuesday. The business has a fifty day moving average of $4.63 and a two-hundred day moving average of $5.84. The firm has a market cap of $1.11 billion, a P/E ratio of 4.69 and a beta of 0.50. Centerra Gold Inc. has a twelve month low of $3.77 and a twelve month high of $10.57.

Centerra Gold Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be issued a dividend of $0.051 per share. The ex-dividend date is Thursday, November 17th. This represents a $0.20 dividend on an annualized basis and a yield of 4.06%. Centerra Gold’s dividend payout ratio is currently 19.63%.

Wall Street Analysts Forecast Growth

CGAU has been the topic of a number of analyst reports. TD Securities upped their target price on Centerra Gold from C$7.00 to C$7.50 in a research note on Tuesday, November 8th. National Bank Financial lowered their price target on Centerra Gold from C$11.00 to C$10.50 in a report on Tuesday, November 8th. Scotiabank lowered Centerra Gold from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $12.00 to $7.00 in a report on Thursday, August 11th. Canaccord Genuity Group lowered their price target on Centerra Gold from C$11.00 to C$8.00 and set a “buy” rating for the company in a report on Friday, August 12th. Finally, Raymond James lowered their price target on Centerra Gold from C$10.50 to C$10.00 in a report on Wednesday, November 9th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Centerra Gold has an average rating of “Moderate Buy” and an average price target of $9.25.

Centerra Gold Profile

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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 include the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt Gold Mine located in Turkey.

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Institutional Ownership by Quarter for Centerra Gold (NYSE:CGAU)

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