Hillsdale Investment Management Inc. Cuts Stock Holdings in Centerra Gold Inc. $CGAU

Hillsdale Investment Management Inc. lessened its position in Centerra Gold Inc. (NYSE:CGAU) by 8.1% in the first quarter, HoldingsChannel reports. The fund owned 3,227,935 shares of the company’s stock after selling 285,940 shares during the quarter. Centerra Gold makes up approximately 1.6% of Hillsdale Investment Management Inc.’s holdings, making the stock its 10th largest holding. Hillsdale Investment Management Inc.’s holdings in Centerra Gold were worth $57,393,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Burkett Financial Services LLC acquired a new position in shares of Centerra Gold during the third quarter worth approximately $30,000. Osaic Holdings Inc. grew its position in Centerra Gold by 63.0% in the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock valued at $34,000 after purchasing an additional 1,839 shares during the period. Global Retirement Partners LLC acquired a new stake in Centerra Gold in the 4th quarter valued at $36,000. Leonteq Securities AG bought a new stake in Centerra Gold during the 4th quarter valued at $72,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Centerra Gold during the 1st quarter valued at $97,000. Institutional investors own 55.40% of the company’s stock.

Centerra Gold Trading Down 2.1%

Shares of Centerra Gold stock opened at $15.87 on Tuesday. The stock has a fifty day simple moving average of $16.70 and a 200 day simple moving average of $17.40. Centerra Gold Inc. has a 12-month low of $6.71 and a 12-month high of $21.17. The company has a market capitalization of $3.14 billion, a P/E ratio of 5.12, a price-to-earnings-growth ratio of 0.61 and a beta of 0.81. The company has a current ratio of 2.41, a quick ratio of 1.60 and a debt-to-equity ratio of 0.06.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Centerra Gold had a return on equity of 14.90% and a net margin of 40.32%.The business had revenue of $484.70 million during the quarter, compared to analyst estimates of $373.47 million. On average, sell-side analysts anticipate that Centerra Gold Inc. will post 1.61 earnings per share for the current fiscal year.

Centerra Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a $0.07 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.28 annualized dividend and a dividend yield of 1.8%. Centerra Gold’s dividend payout ratio is presently 6.77%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CGAU shares. Scotiabank restated an “outperform” rating on shares of Centerra Gold in a report on Tuesday, July 7th. Wall Street Zen raised shares of Centerra Gold from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Zacks Research downgraded shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Centerra Gold in a report on Friday, March 27th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Centerra Gold has an average rating of “Moderate Buy” and a consensus price target of $16.67.

About Centerra Gold

Centerra Gold Inc is a gold mining company incorporated in Canada and headquartered in Toronto. The company specializes in the exploration, development and operation of precious metals properties, with a focus on gold production. Centerra’s portfolio includes the Mount Milligan mine in British Columbia, Canada, and the Otjikoto mine in Namibia. Both operations produce gold and copper concentrates and employ modern mining methods and processing facilities to optimize recovery rates and minimize environmental impact.

In addition to its producing assets, Centerra is advancing the development of its Greenstone Gold Project in Ontario, Canada, which, upon completion, is expected to become one of Canada’s largest gold mines.