Rathbones Group PLC, a UK-based investment management company, has significantly reduced its stake in Centerra Gold Inc. (NYSE:CGAU) during the first quarter of this year, according to its latest filing with the Securities and Exchange Commission (SEC). The firm reported that it sold 26,000 shares of Centerra Gold, slashing its position by 41.9%. As a result, Rathbones Group PLC now holds 36,000 shares of the company’s stock, which are valued at approximately $232,000 as of the most recent reporting period.
Centerra Gold Inc. is a Canadian-based gold mining company that operates various mines and exploration projects worldwide. The decrease in shareholding by Rathbones Group PLC suggests a change in their investment strategy or outlook for Centerra Gold’s future performance.
In addition to this development, Centerra Gold recently announced a quarterly dividend payment on August 29th. Shareholders who were recorded as owning shares on August 15th received a dividend of $0.053 per share. This represents an increase from the previous quarterly dividend payout of $0.05 per share. The new dividend translates to an annualized dividend rate of $0.21 per share and provides investors with a dividend yield of approximately 3.54%.
It is worth noting that Centerra Gold’s current dividend payout ratio (DPR) stands at -16.67%, indicating that the company is not distributing all its earnings as dividends but retaining them for reinvestment purposes or other corporate activities.
Investors and analysts will closely monitor any further developments regarding Rathbones Group PLC’s stake reduction in Centerra Gold Inc., as well as the impact of Centerra’s increased dividend payout on shareholders’ returns.
As always, before making any investment decisions related to specific stocks like CGAU, it is crucial to conduct thorough research and analysis while considering variables such as financial performance, industry trends, and market conditions. This will provide investors with a comprehensive view of the company’s fundamentals and better inform their investment strategies moving forward.
As of the referenced date, September 3, 2023, the information provided in this article is accurate and up to date. However, market conditions and events may change rapidly, so investors are encouraged to stay informed by consulting reliable investment sources and keeping track of future announcements from Centerra Gold Inc.
Centerra Gold Inc.: Strong Investor Interest, Positive Outlook, and Growing Confidence in Future Growth
Centerra Gold Inc., a leading gold mining company, has recently seen an influx of large investors adding to or reducing their stakes in the company. This news has sparked interest and speculation among industry insiders and analysts.
One major investor, First Trust Advisors LP, acquired a new position in Centerra Gold shares during the fourth quarter worth approximately $64,000. Another prominent investor, Vanguard Personalized Indexing Management LLC, also acquired a new position in the company’s shares during the same period, valued at around $66,000. These investments highlight a growing confidence in Centerra Gold’s potential for growth and profitability.
UBS Group AG is one such investor that showcased tremendous confidence in Centerra Gold. The group grew its position in the company by a staggering 431.3% during the third quarter, now owning over 22,000 shares worth approximately $99,000. This significant increase demonstrates UBS Group AG’s belief in Centerra Gold’s ability to generate positive returns on investment.
Scotia Capital Inc., another established player in the investment arena bought a new position in shares of Centerra Gold during the first quarter, signaling their recognition of the company’s potential value. With this purchase amounting to about $108,000, Scotia Capital Inc. acknowledges Centerra Gold as an attractive investment opportunity.
Citigroup Inc., too, recognized Centerra Gold’s strong performance and prospects for growth when it raised its position by 46.8% in the fourth quarter. Citigroup Inc. now owns over 23,600 shares valued at around $122,000.This move further solidifies Centerra Gold’s standing as an attractive investment option.
Institutional investors currently hold 51.53% of Centerra Gold stock which testifies to their growing confidence in the company’s bright future.
Analysts have taken notice of Centerra Gold’s recent developments and have issued research reports focusing on its current trajectory and future prospects. Credit Suisse Group, for instance, raised their price target on Centerra Gold from C$8.00 to C$9.50. Scotiabank initiated coverage on Centerra Gold with an “outperform” rating, further bolstering its reputation.
TD Securities also upgraded Centerra Gold from a “hold” rating to a “buy” rating in their research note, while National Bank Financial reduced their price objective. Raymond James joined in the positive sentiment by upgrading the company’s stock from “market perform” to “outperform.”
Centerra Gold’s stock opened at $5.99 on Friday and has been trading within a range of $3.77 (52 week low) and $7.71 (52 week high). However, the fifty-day moving average for the stock is currently at $6.02, reflecting a steady performance over recent weeks.
Despite Centerra Gold reporting an EPS of ($0.20) for the last quarter, slightly lower than the consensus’s estimate of ($0.19), industry analysts remain optimistic about its earnings potential. The company had a negative return on equity of 6.96% but managed to generate revenues of $184.52 million during this period.
Looking ahead, analysts predict that Centerra Gold Inc. will post an EPS of 0.09 for the current year which reinforces positive expectations for the company’s profitability.
Overall, Centerra Gold has garnered significant attention from large institutional investors and research analysts alike due to its strong growth potential and positive market outlook. As investors continue to show confidence in Centerra Gold’s future prospects, industry watchers eagerly await further developments and expect continued success from this gold mining giant.