Invesco Ltd. Acquires 594,674 Shares of Centerra Gold Inc. $CGAU

Key Points

• Invesco Ltd. increased its stake in Centerra Gold Inc. by 37.5% during the first quarter, bringing its total holdings to 2,180,721 shares worth approximately $13.85 million.
• Centerra Gold announced a quarterly dividend of $0.07 per share, reflecting an annualized dividend of $0.28 with a yield of 3.6%.
• The stock's consensus rating is a Moderate Buy with a target price of $13.00, as recent analyst reports indicate a mix of strong-buy, buy, and hold ratings.

Invesco Ltd. boosted its position in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) by 37.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,180,721 shares of the company's stock after buying an additional 594,674 shares during the quarter. Invesco Ltd. owned approximately 1.04% of Centerra Gold worth $13,848,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Deutsche Bank AG raised its holdings in Centerra Gold by 1,792.9% during the 1st quarter. Deutsche Bank AG now owns 439,501 shares of the company's stock valued at $2,791,000 after buying an additional 416,283 shares during the last quarter. Vanguard Group Inc. raised its holdings in Centerra Gold by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 8,310,457 shares of the company's stock valued at $52,722,000 after buying an additional 55,839 shares during the last quarter. Atria Wealth Solutions Inc. raised its holdings in Centerra Gold by 80.0% during the 1st quarter. Atria Wealth Solutions Inc. now owns 90,000 shares of the company's stock valued at $571,000 after buying an additional 40,000 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in Centerra Gold during the 1st quarter valued at $1,128,000. Finally, Bastion Asset Management Inc. raised its holdings in Centerra Gold by 1.5% during the 1st quarter. Bastion Asset Management Inc. now owns 818,173 shares of the company's stock valued at $5,195,000 after buying an additional 12,153 shares during the last quarter. 55.40% of the stock is currently owned by institutional investors.

Centerra Gold Stock Performance

Shares of Centerra Gold stock traded up $0.03 during trading on Thursday, hitting $7.83. The company's stock had a trading volume of 2,153,304 shares, compared to its average volume of 1,486,283. The company has a fifty day simple moving average of $7.28 and a two-hundred day simple moving average of $6.79. The company has a market capitalization of $1.59 billion, a PE ratio of 23.71, a P/E/G ratio of 0.59 and a beta of 0.80. Centerra Gold Inc. has a 52 week low of $5.41 and a 52 week high of $7.90.

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

Centerra Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Thursday, August 21st. Centerra Gold's dividend payout ratio (DPR) is presently 60.61%.

Wall Street Analyst Weigh In

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

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.