Deutsche Bank AG Boosts Stake in Centerra Gold Inc. $CGAU

Key Points

• Deutsche Bank AG significantly increased its holdings in Centerra Gold Inc. by 1,792.9%, now owning 439,501 shares worth approximately $2.79 million.
• Centerra Gold has received mixed ratings from analysts, with the current consensus rating being "Moderate Buy" and an average target price of $13.00.
• The company will pay a quarterly dividend of $0.07 per share on September 4th, reflecting a 4.0% dividend yield.

Deutsche Bank AG grew its position in Centerra Gold Inc. (NYSE:CGAU - Free Report) by 1,792.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 439,501 shares of the company's stock after buying an additional 416,283 shares during the quarter. Deutsche Bank AG owned 0.21% of Centerra Gold worth $2,791,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in shares of Centerra Gold in the fourth quarter valued at $396,000. Nuveen Asset Management LLC grew its stake in shares of Centerra Gold by 3.1% in the fourth quarter. Nuveen Asset Management LLC now owns 1,890,136 shares of the company's stock valued at $10,750,000 after buying an additional 57,609 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Centerra Gold by 15.6% in the fourth quarter. Geode Capital Management LLC now owns 525,967 shares of the company's stock valued at $2,993,000 after buying an additional 71,028 shares in the last quarter. Millennium Management LLC boosted its holdings in Centerra Gold by 0.3% in the fourth quarter. Millennium Management LLC now owns 585,238 shares of the company's stock valued at $3,330,000 after purchasing an additional 1,663 shares during the period. Finally, AMH Equity Ltd purchased a new position in Centerra Gold in the first quarter valued at $902,000. 55.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CGAU. CIBC reiterated an "outperform" rating on shares of Centerra Gold in a report on Tuesday, July 15th. Cibc World Mkts upgraded Centerra Gold from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. National Bankshares reiterated an "outperform" rating on shares of Centerra Gold in a report on Tuesday, June 24th. Wall Street Zen upgraded Centerra Gold from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, BMO Capital Markets lowered Centerra Gold from a "strong-buy" rating to a "hold" rating in a report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $13.00.

Centerra Gold Stock Performance

NYSE CGAU traded down $0.07 during trading on Monday, reaching $7.68. 953,739 shares of the company's stock were exchanged, compared to its average volume of 1,482,908. The stock has a market cap of $1.56 billion, a P/E ratio of 23.27, a price-to-earnings-growth ratio of 0.58 and a beta of 0.80. The company has a 50 day moving average price of $7.24 and a two-hundred day moving average price of $6.77. Centerra Gold Inc. has a 1 year low of $5.41 and a 1 year high of $7.83.

Centerra Gold (NYSE:CGAU - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.08. The company had revenue of $288.30 million during the quarter, compared to the consensus estimate of $319.42 million. Centerra Gold had a return on equity of 9.12% and a net margin of 6.21%. Research analysts forecast that Centerra Gold Inc. will post 0.59 EPS for the current fiscal year.

Centerra Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Thursday, August 21st. Centerra Gold's payout ratio is 60.61%.

Centerra Gold 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.