Prudential PLC Invests $277,000 in Centerra Gold Inc. (NYSE:CGAU)

Prudential PLC acquired a new position in Centerra Gold Inc. (NYSE:CGAU - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 48,676 shares of the company's stock, valued at approximately $277,000.

Several other hedge funds and other institutional investors have also modified their holdings of CGAU. FMR LLC boosted its position in Centerra Gold by 114.5% during the 3rd quarter. FMR LLC now owns 37,100 shares of the company's stock worth $266,000 after purchasing an additional 19,800 shares during the period. Verition Fund Management LLC purchased a new stake in shares of Centerra Gold during the 3rd quarter valued at about $206,000. HighTower Advisors LLC acquired a new position in Centerra Gold during the 3rd quarter worth approximately $127,000. Jane Street Group LLC grew its position in Centerra Gold by 145.6% in the third quarter. Jane Street Group LLC now owns 419,992 shares of the company's stock valued at $3,015,000 after acquiring an additional 249,004 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Centerra Gold by 17.9% during the third quarter. National Bank of Canada FI now owns 608,701 shares of the company's stock valued at $4,368,000 after purchasing an additional 92,255 shares during the period. 55.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on CGAU. National Bankshares reaffirmed an "outperform" rating on shares of Centerra Gold in a research note on Wednesday, April 2nd. CIBC reiterated a "neutral" rating on shares of Centerra Gold in a research note on Thursday, March 20th. Desjardins lowered Centerra Gold from a "moderate buy" rating to a "hold" rating in a research report on Thursday, February 13th. Raymond James reaffirmed an "outperform" rating on shares of Centerra Gold in a report on Friday, April 4th. Finally, National Bank Financial upgraded Centerra Gold to a "strong-buy" rating in a research note on Friday, March 21st. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Centerra Gold presently has an average rating of "Moderate Buy" and an average target price of $11.00.

Centerra Gold Stock Performance

CGAU traded up $0.14 during trading on Monday, reaching $6.75. The company had a trading volume of 251,510 shares, compared to its average volume of 834,698. Centerra Gold Inc. has a 12-month low of $5.41 and a 12-month high of $7.82. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 18.75 and a beta of 0.81. The firm's 50-day simple moving average is $6.14 and its 200 day simple moving average is $6.25.

Centerra Gold (NYSE:CGAU - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). The firm had revenue of $302.40 million for the quarter, compared to analysts' expectations of $316.92 million. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. On average, sell-side analysts expect that Centerra Gold Inc. will post 0.59 EPS for the current year.

Centerra Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from Centerra Gold's previous quarterly dividend of $0.05. Centerra Gold's payout ratio is 52.78%.

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.