JPMorgan Chase & Co. Has $14.67 Million Stock Position in Centerra Gold Inc. $CGAU

JPMorgan Chase & Co. lifted its position in Centerra Gold Inc. (NYSE:CGAU) by 146.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,367,172 shares of the company’s stock after purchasing an additional 811,803 shares during the quarter. JPMorgan Chase & Co. owned 0.68% of Centerra Gold worth $14,670,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Cubist Systematic Strategies LLC acquired a new position in Centerra Gold in the first quarter worth about $192,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Centerra Gold in the 1st quarter worth approximately $97,000. Goldman Sachs Group Inc. raised its holdings in shares of Centerra Gold by 57.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock worth $84,739,000 after buying an additional 4,853,494 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Centerra Gold during the 1st quarter worth approximately $218,000. Finally, Savant Capital LLC bought a new stake in Centerra Gold in the second quarter valued at $130,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

Centerra Gold Stock Down 0.8%

NYSE:CGAU opened at $19.36 on Thursday. The stock’s fifty day moving average price is $17.45 and its two-hundred day moving average price is $13.34. Centerra Gold Inc. has a 52-week low of $5.41 and a 52-week high of $21.17. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.65 and a current ratio of 2.39. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 6.82, a P/E/G ratio of 0.98 and a beta of 0.83.

Centerra Gold (NYSE:CGAU) last released its earnings results on Thursday, February 19th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. Centerra Gold had a return on equity of 12.42% and a net margin of 42.18%.The company had revenue of $401.60 million during the quarter, compared to analysts’ expectations of $355.39 million. On average, analysts anticipate that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be given 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 yield of 1.4%. Centerra Gold’s dividend payout ratio is presently 7.04%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Zacks Research upgraded shares of Centerra Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Centerra Gold in a report on Monday, December 29th. Scotiabank upped their price objective on shares of Centerra Gold from $13.50 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Wednesday, February 4th. Finally, Wall Street Zen downgraded Centerra Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.00.

Centerra Gold 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.