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

by · The Cerbat Gem

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in Centerra Gold Inc. (NYSE:CGAU – Free Report) by 42.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,509,937 shares of the company’s stock after selling 1,880,068 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Centerra Gold were worth $14,265,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Amundi raised its holdings in shares of Centerra Gold by 168.6% in the 4th quarter. Amundi now owns 2,628,623 shares of the company’s stock worth $15,377,000 after purchasing an additional 1,650,160 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Centerra Gold in the 4th quarter worth about $258,000. Raymond James Financial Inc. purchased a new position in shares of Centerra Gold in the 4th quarter worth about $268,000. Plato Investment Management Ltd raised its holdings in shares of Centerra Gold by 47.3% in the 4th quarter. Plato Investment Management Ltd now owns 84,559 shares of the company’s stock worth $483,000 after purchasing an additional 27,164 shares during the period. Finally, U S Global Investors Inc. purchased a new position in shares of Centerra Gold in the 4th quarter worth about $3,667,000. 55.40% of the stock is owned by institutional investors and hedge funds.

Centerra Gold Stock Up 2.7 %

CGAU stock opened at $5.82 on Friday. Centerra Gold Inc. has a 52-week low of $5.46 and a 52-week high of $7.82. The stock’s 50 day moving average is $6.09 and its two-hundred day moving average is $6.40. The company has a market capitalization of $1.22 billion, a PE ratio of 16.15 and a beta of 0.92.

Centerra Gold (NYSE:CGAU – Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $302.40 million for the quarter, compared to analysts’ expectations of $316.92 million. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. As a group, sell-side analysts anticipate that Centerra Gold Inc. will post 0.59 EPS for the current 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 given 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 yield of 4.82%. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s payout ratio is currently 52.78%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CGAU shares. Cormark downgraded Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 26th. Desjardins downgraded Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday, February 13th. Finally, Scotiabank dropped their price objective 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. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $11.00.

View Our Latest Research Report on Centerra Gold

Centerra Gold Profile

(Free Report)

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.

Further Reading

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