Centerra Gold Inc. (NYSE:CGAU) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its position in Centerra Gold Inc. (NYSE:CGAU) by 42.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,509,937 shares of the company’s stock after selling 1,880,068 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 1.20% of Centerra Gold worth $14,265,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CGAU. SG Americas Securities LLC purchased a new stake in shares of Centerra Gold during the fourth quarter worth approximately $59,000. Wilmington Savings Fund Society FSB purchased a new position in Centerra Gold in the fourth quarter worth $80,000. Capstone Investment Advisors LLC purchased a new position in Centerra Gold in the third quarter worth $89,000. HighTower Advisors LLC purchased a new position in Centerra Gold in the third quarter worth $127,000. Finally, Entropy Technologies LP purchased a new position in Centerra Gold in the fourth quarter worth $177,000. 55.40% of the stock is owned by institutional investors and hedge funds.

Centerra Gold Stock Up 2.7 %

CGAU opened at $5.82 on Friday. The firm has a market cap of $1.22 billion, a P/E ratio of 16.15 and a beta of 0.92. Centerra Gold Inc. has a 52 week low of $5.46 and a 52 week high of $7.82. The business’s fifty day simple moving average is $6.09 and its 200 day simple moving average is $6.40.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The company had revenue of $302.40 million for the quarter, compared to analyst estimates of $316.92 million. Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. As a group, equities analysts expect that Centerra Gold Inc. will post 0.59 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.82%. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio (DPR) is presently 52.78%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Scotiabank dropped their price target on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a research report on Wednesday, January 15th. Cormark cut Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Desjardins cut Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.00.

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.