PCJ Investment Counsel Ltd. Purchases 162,382 Shares of Centerra Gold Inc. (NYSE:CGAU)

PCJ Investment Counsel Ltd. grew its position in shares of Centerra Gold Inc. (NYSE:CGAU) by 59.6% in the 3rd quarter, Holdings Channel reports. The firm owned 434,628 shares of the company’s stock after acquiring an additional 162,382 shares during the quarter. PCJ Investment Counsel Ltd.’s holdings in Centerra Gold were worth $3,120,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Plato Investment Management Ltd bought a new position in Centerra Gold during the 3rd quarter worth approximately $412,000. Versor Investments LP grew its position in Centerra Gold by 40.9% in the 3rd quarter. Versor Investments LP now owns 146,700 shares of the company’s stock valued at $1,053,000 after purchasing an additional 42,600 shares during the period. Old West Investment Management LLC grew its position in Centerra Gold by 100.0% in the 3rd quarter. Old West Investment Management LLC now owns 400,000 shares of the company’s stock valued at $2,864,000 after purchasing an additional 200,000 shares during the period. Integrated Advisors Network LLC acquired a new stake in Centerra Gold in the 3rd quarter valued at $367,000. Finally, Semanteon Capital Management LP grew its position in Centerra Gold by 152.3% in the 3rd quarter. Semanteon Capital Management LP now owns 46,972 shares of the company’s stock valued at $336,000 after purchasing an additional 28,358 shares during the period. Institutional investors own 55.40% of the company’s stock.

Centerra Gold Stock Performance

Shares of Centerra Gold stock opened at $6.03 on Wednesday. Centerra Gold Inc. has a 52-week low of $4.47 and a 52-week high of $7.82. The stock’s 50-day simple moving average is $6.91 and its 200 day simple moving average is $6.86. The stock has a market capitalization of $1.27 billion, a P/E ratio of 12.55 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. The firm had revenue of $323.93 million during the quarter. During the same quarter in the prior year, the company earned $0.20 EPS. Equities research analysts forecast that Centerra Gold Inc. will post 0.81 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.052 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 annualized dividend and a dividend yield of 3.45%. Centerra Gold’s dividend payout ratio is currently 41.67%.

Wall Street Analyst Weigh In

Separately, Desjardins raised shares of Centerra Gold to a “moderate buy” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” 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.