Centerra Gold Inc. (NYSE:CGAU) Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. trimmed its position in Centerra Gold Inc. (NYSE:CGAU) by 74.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,407,909 shares of the company’s stock after selling 4,016,113 shares during the period. Hillsdale Investment Management Inc. owned approximately 0.67% of Centerra Gold worth $8,003,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its holdings in shares of Centerra Gold by 59.0% in the third quarter. Bank of Montreal Can now owns 3,869,035 shares of the company’s stock valued at $28,690,000 after buying an additional 1,435,794 shares in the last quarter. Quantbot Technologies LP increased its holdings in shares of Centerra Gold by 129.6% in the third quarter. Quantbot Technologies LP now owns 57,796 shares of the company’s stock valued at $414,000 after buying an additional 32,621 shares in the last quarter. FMR LLC increased its holdings in shares of Centerra Gold by 114.5% in the third quarter. FMR LLC now owns 37,100 shares of the company’s stock valued at $266,000 after buying an additional 19,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Centerra Gold by 8.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,308 shares of the company’s stock valued at $419,000 after buying an additional 4,373 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. increased its holdings in shares of Centerra Gold by 15.1% in the third quarter. Northwest & Ethical Investments L.P. now owns 150,869 shares of the company’s stock valued at $1,083,000 after buying an additional 19,791 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Centerra Gold Stock Down 2.5 %

Shares of NYSE:CGAU opened at $6.09 on Friday. The company’s fifty day moving average is $6.13 and its two-hundred day moving average is $6.35. Centerra Gold Inc. has a 12-month low of $5.46 and a 12-month high of $7.82. The company has a market cap of $1.28 billion, a P/E ratio of 16.90 and a beta of 0.92.

Centerra Gold (NYSE:CGAU) last announced its earnings results 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). Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. The firm had revenue of $302.40 million for the quarter, compared to analyst estimates of $316.92 million. Equities research analysts anticipate that Centerra Gold Inc. will post 0.59 earnings per share for the current year.

Centerra Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.07 per share. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.28 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Thursday, March 13th. Centerra Gold’s payout ratio is currently 52.78%.

Wall Street Analysts Forecast Growth

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