Charles Schwab Investment Management Inc. Sells 54,211 Shares of Centerra Gold Inc. (NYSE:CGAU)

Charles Schwab Investment Management Inc. cut its stake in shares of Centerra Gold Inc. (NYSE:CGAU) by 5.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 985,313 shares of the company’s stock after selling 54,211 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Centerra Gold were worth $5,604,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Bank of Montreal Can boosted its position in Centerra Gold by 59.0% in the third quarter. Bank of Montreal Can now owns 3,869,035 shares of the company’s stock worth $28,690,000 after purchasing an additional 1,435,794 shares during the last quarter. U S Global Investors Inc. bought a new stake in Centerra Gold during the fourth quarter valued at approximately $3,667,000. Public Employees Retirement System of Ohio purchased a new stake in Centerra Gold during the third quarter valued at approximately $4,454,000. National Bank of Canada FI raised its position in Centerra Gold by 17.9% in the third quarter. National Bank of Canada FI now owns 608,701 shares of the company’s stock worth $4,368,000 after acquiring an additional 92,255 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Centerra Gold by 131.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 588,681 shares of the company’s stock worth $3,346,000 after acquiring an additional 334,719 shares during the last quarter. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Centerra Gold Stock Up 3.6 %

NYSE:CGAU opened at $6.32 on Wednesday. The stock has a market cap of $1.33 billion, a PE ratio of 17.56 and a beta of 0.92. The business’s 50-day simple moving average is $6.14 and its two-hundred day simple moving average is $6.34. Centerra Gold Inc. has a 52 week low of $5.46 and a 52 week high of $7.82.

Centerra Gold (NYSE:CGAU) last issued its earnings results on Thursday, February 20th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The company had revenue of $302.40 million for the quarter, compared to the consensus estimate of $316.92 million. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. Sell-side analysts anticipate that Centerra Gold Inc. will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 4.43%. The ex-dividend date is Thursday, March 13th. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio (DPR) is currently 52.78%.

Wall Street Analysts Forecast Growth

CGAU has been the topic of a number of recent research reports. Cormark cut Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 26th. Desjardins cut Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 13th. Scotiabank lowered their price objective on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, January 15th. Finally, National Bank Financial raised shares of Centerra Gold to a “strong-buy” rating in a report on Friday, March 21st. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently 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.