Jupiter Asset Management Ltd. Buys New Stake in Centerra Gold Inc. (NYSE:CGAU)

Key Points

• Jupiter Asset Management Ltd. has taken a new position in Centerra Gold Inc. (NYSE:CGAU), purchasing 177,836 shares valued at approximately $1.13 million, representing about 0.08% ownership of the company.
• Several other institutional investors have also increased their stakes in Centerra Gold, indicating a growing interest in the company, with hedge funds owning 55.40% of the stock.
• Analysts have rated Centerra Gold with a consensus of "Buy" and set a target price of $13.00, following upgrades from various research firms.

Jupiter Asset Management Ltd. acquired a new stake in Centerra Gold Inc. (NYSE:CGAU - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 177,836 shares of the company's stock, valued at approximately $1,128,000. Jupiter Asset Management Ltd. owned about 0.08% of Centerra Gold as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Centerra Gold by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 8,254,618 shares of the company's stock valued at $46,977,000 after purchasing an additional 76,544 shares during the last quarter. Royal Bank of Canada increased its position in shares of Centerra Gold by 7.2% during the fourth quarter. Royal Bank of Canada now owns 7,950,409 shares of the company's stock valued at $45,238,000 after acquiring an additional 530,601 shares during the last quarter. Man Group plc raised its stake in shares of Centerra Gold by 43.2% in the 4th quarter. Man Group plc now owns 3,038,739 shares of the company's stock valued at $17,283,000 after acquiring an additional 916,255 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Centerra Gold by 14.9% in the 4th quarter. Mackenzie Financial Corp now owns 2,075,826 shares of the company's stock worth $11,800,000 after acquiring an additional 269,228 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Centerra Gold by 3.1% in the 4th quarter. Nuveen Asset Management LLC now owns 1,890,136 shares of the company's stock worth $10,750,000 after acquiring an additional 57,609 shares during the last quarter. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Centerra Gold Trading Down 5.6%

NYSE:CGAU traded down $0.43 during midday trading on Friday, reaching $7.12. The company had a trading volume of 1,056,182 shares, compared to its average volume of 914,805. Centerra Gold Inc. has a 12-month low of $5.41 and a 12-month high of $7.82. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 0.49 and a beta of 0.80. The stock's fifty day simple moving average is $7.25 and its 200-day simple moving average is $6.68.

Centerra Gold (NYSE:CGAU - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.08. Centerra Gold had a return on equity of 9.15% and a net margin of 6.21%. The business had revenue of $288.30 million during the quarter, compared to analysts' expectations of $319.42 million. As a group, sell-side analysts expect that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Dividend Announcement

The company 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 annualized dividend and a yield of 3.9%. Centerra Gold's dividend payout ratio (DPR) is presently 60.61%.

Analysts Set New Price Targets

CGAU has been the topic of a number of research analyst reports. Scotiabank reissued an "outperform" rating on shares of Centerra Gold in a research report on Monday, April 14th. BMO Capital Markets downgraded Centerra Gold from an "outperform" rating to a "market perform" rating in a report on Friday. Cibc World Mkts raised Centerra Gold from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 27th. CIBC reaffirmed an "outperform" rating on shares of Centerra Gold in a research report on Tuesday, July 15th. Finally, National Bankshares reiterated an "outperform" rating on shares of Centerra Gold in a research note on Tuesday, June 24th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $13.00.

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.