JPMorgan Chase & Co. Buys 811,803 Shares of Centerra Gold Inc. $CGAU

JPMorgan Chase & Co. grew its stake in Centerra Gold Inc. (NYSE:CGAU) by 146.2% during the third quarter, Holdings Channel.com reports. The fund owned 1,367,172 shares of the company’s stock after purchasing an additional 811,803 shares during the quarter. JPMorgan Chase & Co.’s holdings in Centerra Gold were worth $14,670,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in shares of Centerra Gold by 57.2% during the first quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock valued at $84,739,000 after acquiring an additional 4,853,494 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Centerra Gold by 18.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 7,725,444 shares of the company’s stock worth $82,796,000 after purchasing an additional 1,195,277 shares during the period. Waratah Capital Advisors Ltd. raised its position in Centerra Gold by 4.1% during the 3rd quarter. Waratah Capital Advisors Ltd. now owns 6,954,407 shares of the company’s stock valued at $74,621,000 after purchasing an additional 275,510 shares in the last quarter. American Century Companies Inc. raised its position in Centerra Gold by 32.7% during the 3rd quarter. American Century Companies Inc. now owns 5,379,277 shares of the company’s stock valued at $57,631,000 after purchasing an additional 1,324,448 shares in the last quarter. Finally, Man Group plc lifted its holdings in shares of Centerra Gold by 9.7% in the 2nd quarter. Man Group plc now owns 3,649,899 shares of the company’s stock worth $26,241,000 after buying an additional 323,860 shares during the period. 55.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CGAU shares. Scotiabank increased their price target on Centerra Gold from $13.50 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. BMO Capital Markets upgraded Centerra Gold from a “hold” rating to an “outperform” rating in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Centerra Gold in a research note on Monday, December 29th. Wall Street Zen cut shares of Centerra Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Centerra Gold in a research report on Wednesday, February 4th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Centerra Gold Stock Down 4.0%

Centerra Gold stock opened at $16.27 on Friday. The company has a quick ratio of 1.65, a current ratio of 2.39 and a debt-to-equity ratio of 0.04. The firm has a market cap of $3.25 billion, a P/E ratio of 5.73, a P/E/G ratio of 0.85 and a beta of 0.83. The business has a fifty day moving average of $18.27 and a two-hundred day moving average of $14.40. Centerra Gold Inc. has a twelve month low of $5.41 and a twelve month high of $21.17.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. Centerra Gold had a return on equity of 12.42% and a net margin of 42.18%.The firm had revenue of $401.60 million during the quarter, compared to analyst estimates of $355.39 million. On average, analysts forecast that Centerra Gold Inc. will post 0.59 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, March 26th. Shareholders of record on Thursday, March 12th were issued a $0.07 dividend. The ex-dividend date was Thursday, March 12th. This represents a $0.28 dividend on an annualized basis and a yield of 1.7%. Centerra Gold’s payout ratio is currently 7.39%.

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.