Nuveen LLC Acquires Shares of 2,306,946 Centerra Gold Inc. $CGAU

Key Points

• Nuveen LLC acquired a new stake in Centerra Gold Inc., purchasing 2,306,946 shares valued at approximately $14.6 million, representing about 1.10% ownership.
• Centerra Gold reported earnings of $0.25 EPS this quarter, exceeding estimates, and announced a quarterly dividend of $0.07 per share with an annual yield of 3.9%.
• Analysts have mixed opinions on Centerra Gold, with ratings ranging from "strong-buy" to "hold", resulting in a current consensus rating of "Moderate Buy" with a target price of $13.00.

Nuveen LLC purchased a new position in shares of Centerra Gold Inc. (NYSE:CGAU - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,306,946 shares of the company's stock, valued at approximately $14,634,000. Nuveen LLC owned 1.10% of Centerra Gold as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in CGAU. Vise Technologies Inc. acquired a new position in Centerra Gold during the 4th quarter worth approximately $58,000. OMERS ADMINISTRATION Corp acquired a new position in Centerra Gold during the 4th quarter worth approximately $79,000. Aquatic Capital Management LLC acquired a new position in Centerra Gold during the 4th quarter worth approximately $82,000. Capstone Investment Advisors LLC raised its stake in Centerra Gold by 34.2% during the 4th quarter. Capstone Investment Advisors LLC now owns 16,712 shares of the company's stock worth $95,000 after buying an additional 4,263 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in Centerra Gold by 74.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 18,488 shares of the company's stock worth $117,000 after buying an additional 7,895 shares during the period. 55.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Centerra Gold Trading Up 2.4%

Shares of CGAU stock traded up $0.19 during trading on Tuesday, hitting $7.86. The company's stock had a trading volume of 930,466 shares, compared to its average volume of 1,498,789. The company has a market cap of $1.60 billion, a PE ratio of 23.81, a P/E/G ratio of 0.58 and a beta of 0.80. The business has a fifty day moving average of $7.25 and a 200-day moving average of $6.77. Centerra Gold Inc. has a 52 week low of $5.41 and a 52 week high of $7.87.

Centerra Gold (NYSE:CGAU - Get Free Report) last released its earnings results 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. The company had revenue of $288.30 million during the quarter, compared to analyst estimates of $319.42 million. Centerra Gold had a return on equity of 9.12% and a net margin of 6.21%. As a group, research analysts predict that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Announces Dividend

The company also recently disclosed 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 3.6%. The ex-dividend date of this dividend is Thursday, August 21st. Centerra Gold's dividend payout ratio is 60.61%.

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.