Intact Investment Management Inc. Grows Stake in Centerra Gold Inc. $CGAU

Intact Investment Management Inc. lifted its position in Centerra Gold Inc. (NYSE:CGAU) by 200.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 401,400 shares of the company’s stock after purchasing an additional 267,900 shares during the quarter. Intact Investment Management Inc. owned about 0.20% of Centerra Gold worth $2,891,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CGAU. Legal & General Group Plc increased its stake in Centerra Gold by 25.1% in the 2nd quarter. Legal & General Group Plc now owns 818,429 shares of the company’s stock worth $5,884,000 after acquiring an additional 164,238 shares during the last quarter. Virtus Advisers LLC purchased a new position in shares of Centerra Gold during the second quarter worth about $3,484,000. American Century Companies Inc. increased its position in shares of Centerra Gold by 12.1% in the second quarter. American Century Companies Inc. now owns 4,054,829 shares of the company’s stock worth $29,211,000 after purchasing an additional 436,175 shares during the last quarter. Allianz Asset Management GmbH bought a new position in shares of Centerra Gold in the second quarter worth approximately $1,196,000. Finally, Invesco Ltd. raised its stake in Centerra Gold by 37.5% in the first quarter. Invesco Ltd. now owns 2,180,721 shares of the company’s stock valued at $13,848,000 after purchasing an additional 594,674 shares in the last quarter. Institutional investors own 55.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CGAU shares. Zacks Research raised shares of Centerra Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Raymond James Financial reiterated a “market perform” rating on shares of Centerra Gold in a research report on Thursday, October 30th. Royal Bank Of Canada downgraded Centerra Gold from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $13.00 to $14.00 in a research report on Wednesday, September 10th. Cormark upgraded Centerra Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Centerra Gold in a research report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $14.17.

Centerra Gold Stock Performance

Centerra Gold stock opened at $13.81 on Thursday. The firm has a fifty day simple moving average of $12.00 and a two-hundred day simple moving average of $9.26. 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 twelve month low of $5.41 and a twelve month high of $13.94. The company has a market capitalization of $2.79 billion, a PE ratio of 8.42, a P/E/G ratio of 0.50 and a beta of 0.88.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. Centerra Gold had a return on equity of 10.47% and a net margin of 26.35%.The firm had revenue of $395.20 million for the quarter, compared to the consensus estimate of $314.74 million. Research analysts expect that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were given a $0.07 dividend. The ex-dividend date was Thursday, November 13th. This represents a $0.28 annualized dividend and a yield of 2.0%. Centerra Gold’s payout ratio is presently 12.20%.

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.