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

JPMorgan Chase & Co. raised its holdings in shares of Centerra Gold Inc. (NYSE:CGAU) by 146.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,367,172 shares of the company’s stock after acquiring an additional 811,803 shares during the period. JPMorgan Chase & Co.’s holdings in Centerra Gold were worth $14,670,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Legal & General Group Plc increased its holdings in Centerra Gold by 25.1% in the second quarter. Legal & General Group Plc now owns 818,429 shares of the company’s stock valued at $5,884,000 after purchasing an additional 164,238 shares during the last quarter. Intact Investment Management Inc. grew its position in shares of Centerra Gold by 41.5% during the 3rd quarter. Intact Investment Management Inc. now owns 567,900 shares of the company’s stock worth $6,085,000 after buying an additional 166,500 shares during the period. Accordant Advisory Group Inc bought a new stake in shares of Centerra Gold in the 3rd quarter valued at about $2,039,000. Virtus Advisers LLC bought a new stake in shares of Centerra Gold in the 2nd quarter valued at about $3,484,000. Finally, American Century Companies Inc. raised its position in shares of Centerra Gold by 12.1% in the 2nd quarter. American Century Companies Inc. now owns 4,054,829 shares of the company’s stock valued at $29,211,000 after acquiring an additional 436,175 shares during the period. Institutional investors and hedge funds own 55.40% of the company’s stock.

Centerra Gold Trading Down 0.8%

Shares of NYSE:CGAU opened at $19.36 on Thursday. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 6.82, a PEG ratio of 0.98 and a beta of 0.83. Centerra Gold Inc. has a 12 month low of $5.41 and a 12 month high of $21.17. The company’s fifty day simple moving average is $17.45 and its 200 day simple moving average is $13.34. The company has a quick ratio of 1.65, a current ratio of 2.39 and a debt-to-equity ratio of 0.02.

Centerra Gold (NYSE:CGAU) last released its earnings results on Thursday, February 19th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $355.39 million. As a group, research analysts forecast that Centerra Gold Inc. will post 0.59 EPS for the current fiscal year.

Centerra Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, March 12th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. Centerra Gold’s dividend payout ratio (DPR) is presently 7.04%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CGAU shares. Zacks Research upgraded shares of Centerra Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Centerra Gold in a report on Wednesday, February 4th. Scotiabank upped their price objective on shares of Centerra Gold from $13.50 to $19.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Centerra Gold in a report on Monday, December 29th. Finally, BMO Capital Markets raised Centerra Gold from a “hold” rating to an “outperform” rating in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Centerra Gold has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Centerra Gold Company Profile

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.