Intact Investment Management Inc. Acquires 166,500 Shares of Centerra Gold Inc. $CGAU

Intact Investment Management Inc. boosted its stake in shares of Centerra Gold Inc. (NYSE:CGAU) by 41.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 567,900 shares of the company’s stock after buying an additional 166,500 shares during the period. Intact Investment Management Inc. owned approximately 0.28% of Centerra Gold worth $6,085,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CGAU. Cubist Systematic Strategies LLC acquired a new stake in shares of Centerra Gold during the first quarter worth $192,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Centerra Gold in the 1st quarter valued at about $97,000. Goldman Sachs Group Inc. lifted its holdings in shares of Centerra Gold by 57.2% in the first quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock valued at $84,739,000 after purchasing an additional 4,853,494 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Centerra Gold in the first quarter valued at about $218,000. Finally, Farther Finance Advisors LLC acquired a new position in shares of Centerra Gold during the second quarter worth about $27,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Scotiabank reissued an “outperform” rating on shares of Centerra Gold in a research report on Thursday, October 23rd. Wall Street Zen raised shares of Centerra Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Centerra Gold in a report on Monday, December 29th. Cormark raised shares of Centerra Gold from a “hold” rating to a “moderate buy” rating in a research report on Thursday, October 30th. Finally, Zacks Research cut shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $14.17.

Centerra Gold Trading Up 1.6%

Shares of Centerra Gold stock opened at $18.40 on Monday. The stock has a market cap of $3.68 billion, a P/E ratio of 11.22, a P/E/G ratio of 0.48 and a beta of 0.87. The company has a quick ratio of 2.10, a current ratio of 2.89 and a debt-to-equity ratio of 0.02. Centerra Gold Inc. has a 12-month low of $5.41 and a 12-month high of $18.78. The business’s 50 day moving average is $14.38 and its 200-day moving average is $11.10.

Centerra Gold (NYSE:CGAU) last released its earnings results on Tuesday, October 28th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. Centerra Gold had a net margin of 26.35% and a return on equity of 10.47%. The business had revenue of $395.20 million during the quarter, compared to analysts’ expectations of $314.74 million. Equities research analysts predict that Centerra Gold Inc. will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, November 13th. Centerra Gold’s dividend payout ratio is presently 12.20%.

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.