Allspring Global Investments Holdings LLC Reduces Position in Centerra Gold Inc. (NYSE:CGAU)

Allspring Global Investments Holdings LLC reduced its stake in Centerra Gold Inc. (NYSE:CGAU - Free Report) by 91.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,000 shares of the company's stock after selling 535,681 shares during the period. Allspring Global Investments Holdings LLC's holdings in Centerra Gold were worth $336,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets bought a new position in shares of Centerra Gold during the fourth quarter valued at approximately $396,000. Raymond James Financial Inc. bought a new position in shares of Centerra Gold during the fourth quarter valued at approximately $268,000. American Century Companies Inc. increased its stake in shares of Centerra Gold by 34.1% during the fourth quarter. American Century Companies Inc. now owns 3,291,860 shares of the company's stock valued at $18,733,000 after purchasing an additional 836,777 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Centerra Gold by 91.5% during the fourth quarter. Deutsche Bank AG now owns 23,218 shares of the company's stock valued at $132,000 after purchasing an additional 11,093 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of Centerra Gold by 3.1% during the fourth quarter. Nuveen Asset Management LLC now owns 1,890,136 shares of the company's stock valued at $10,750,000 after purchasing an additional 57,609 shares in the last quarter. Institutional investors own 55.40% of the company's stock.

Centerra Gold Trading Down 1.2%

CGAU stock traded down $0.09 on Monday, hitting $7.23. The company had a trading volume of 839,958 shares, compared to its average volume of 919,805. Centerra Gold Inc. has a 12-month low of $5.41 and a 12-month high of $7.82. The stock's 50-day simple moving average is $7.12 and its 200 day simple moving average is $6.51. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 38.03, a P/E/G ratio of 0.40 and a beta of 0.81.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. Centerra Gold had a net margin of 3.68% and a return on equity of 8.71%. The company had revenue of $299.50 million for the quarter, compared to analysts' expectations of $288.25 million. Research analysts forecast that Centerra Gold Inc. will post 0.59 earnings per share for the current year.

Centerra Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend was Thursday, May 22nd. Centerra Gold's dividend payout ratio is currently 105.26%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CGAU shares. CIBC reaffirmed a "neutral" rating on shares of Centerra Gold in a research note on Thursday, March 20th. Scotiabank reissued an "outperform" rating on shares of Centerra Gold in a research report on Monday, April 14th. Raymond James Financial reissued an "outperform" rating on shares of Centerra Gold in a research report on Friday, April 4th. Cibc World Mkts raised shares of Centerra Gold from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 27th. Finally, National Bank Financial raised shares of Centerra Gold to a "strong-buy" rating in a research report on Friday, March 21st. Three analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.00.

Centerra Gold Company 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.