National Bank of Canada FI Raises Position in Centerra Gold Inc. (NYSE:CGAU)

Posted by Defense World Staff on Apr 5th, 2023

National Bank of Canada FI increased its holdings in Centerra Gold Inc. (NYSE:CGAU – Get Rating) by 11,061.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,796,149 shares of the company’s stock after acquiring an additional 1,780,057 shares during the quarter. National Bank of Canada FI’s holdings in Centerra Gold were worth $9,298,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CGAU. Barclays PLC bought a new stake in Centerra Gold in the 3rd quarter worth $41,000. Brinker Capital Investments LLC bought a new stake in Centerra Gold in the 3rd quarter worth $62,000. Great West Life Assurance Co. Can grew its holdings in Centerra Gold by 31.5% in the 3rd quarter. Great West Life Assurance Co. Can now owns 17,862 shares of the company’s stock worth $78,000 after acquiring an additional 4,281 shares during the last quarter. PDT Partners LLC bought a new stake in Centerra Gold in the 3rd quarter worth $87,000. Finally, UBS Group AG bought a new stake in Centerra Gold in the 1st quarter worth $204,000. Hedge funds and other institutional investors own 51.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CGAU shares. Raymond James raised their price target on shares of Centerra Gold from C$10.50 to C$11.00 in a report on Monday, February 27th. CIBC lifted their target price on shares of Centerra Gold from C$7.75 to C$10.50 in a research note on Tuesday, February 7th. National Bank Financial lifted their target price on shares of Centerra Gold from C$11.50 to C$12.50 in a research note on Tuesday, February 14th. Finally, TheStreet lowered shares of Centerra Gold from a “c” rating to a “d+” rating in a research note on Friday, March 3rd.

Centerra Gold Price Performance

Shares of NYSE CGAU opened at $6.80 on Wednesday. Centerra Gold Inc. has a 1 year low of $3.77 and a 1 year high of $10.54. The stock has a market cap of $1.49 billion, a P/E ratio of -15.11 and a beta of 0.82. The firm has a 50-day moving average of $6.35 and a 200 day moving average of $5.50.

Centerra Gold (NYSE:CGAU – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. Centerra Gold had a negative net margin of 9.08% and a negative return on equity of 0.47%. The company had revenue of $208.30 million during the quarter. Research analysts expect that Centerra Gold Inc. will post 0.48 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 28th. Investors of record on Tuesday, March 14th were given a dividend of $0.053 per share. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date was Monday, March 13th. Centerra Gold’s dividend payout ratio (DPR) is -44.44%.

About Centerra Gold

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Centerra Gold, Inc engages in the operation, development, exploration and acquisition of gold and copper properties. It operates through the following segments: Kumtor, Mount Milligan, and Öksüt. The company was founded on November 7, 2002 and is headquartered in Toronto, Canada.