Up 21% in a month: Can GQG shares climb even higher?

These experts reckon GQG shares have plenty of room to climb higher.

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The performance of the GQG Partners Inc (ASX: GQG) share price in recent weeks has been nothing short of extraordinary.

At the start of 2024, GQG shares were asking $1.69 each. But today, those same shares are going for $2.09 at the time of writing. That puts the asset management company up 23.7% year to date, and up 21.5% over the past month alone.

The GQG share price is also up an even more impressive 44.14% over the past 12 months. So investors have done exceptionally well owning these shares in recent times. However, performance has been a little more muted since GQG's ASX debut back in October 2021. Since then, the company's shares are up a far milder 3.5%.

Today, the company has gone backwards, currently down 0.95% for the day. But seeing as GQG has just traded ex-dividend for its upcoming (and sizeable) final dividend of 9.1 US cents per share, investors arguably don't have too much to complain about on this front.

But perhaps those investors are wondering if GQG shares have any room left to grow. After all, we have seen a pretty significant revaluation of this company in recent months.

What's next for GQG shares?

Well, two ASX experts reckon GQG's future is bright.

GQG shares were recently named as one of the best-performing stocks in the Blackwattle Small Cap Quality Fund. This managed fund's managers, Robert Hawkesford and Daniel Broeren, discussed their thoughts on GQG's future in Blackwattle's recent January fund update. Here's what they had to say:

A strong finish for equity markets at the end of the calendar year in combination with consistent inflows and fund performance led to Funds Under Management (FUM) upgrades. At 11x P/E paying a >7% dividend, GQG still screens cheaply vs the market and listed peers with less favorable business momentum.

So GQG is a business with momentum that is trading cheaply, and, partly as a consequence, with a compelling dividend yield. That seems to be the conclusion of Hawkesford and Broeren.

No doubt GQG shareholders will appreciate these insights.

At the current GQG share price, this asset manager is trading on a dividend yield of 6.55%.

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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