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

Allspring Global Investments Holdings LLC cut its stake in Centerra Gold Inc. (NYSE:CGAU - Free Report) by 91.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,000 shares of the company's stock after selling 535,681 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Centerra Gold were worth $336,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Millennium Management LLC boosted its stake in Centerra Gold by 0.3% during the fourth quarter. Millennium Management LLC now owns 585,238 shares of the company's stock valued at $3,330,000 after buying an additional 1,663 shares during the period. Toronto Dominion Bank raised its holdings in shares of Centerra Gold by 8.8% in the 4th quarter. Toronto Dominion Bank now owns 36,901 shares of the company's stock valued at $210,000 after acquiring an additional 2,980 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Centerra Gold by 6.5% in the 4th quarter. Hsbc Holdings PLC now owns 52,769 shares of the company's stock valued at $299,000 after acquiring an additional 3,201 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Centerra Gold by 2.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 181,755 shares of the company's stock worth $1,036,000 after acquiring an additional 3,608 shares in the last quarter. Finally, Capstone Investment Advisors LLC grew its position in Centerra Gold by 34.2% in the fourth quarter. Capstone Investment Advisors LLC now owns 16,712 shares of the company's stock worth $95,000 after acquiring an additional 4,263 shares in the last quarter. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Centerra Gold Price Performance

NYSE CGAU traded up $0.12 during trading on Friday, hitting $7.30. 904,117 shares of the company's stock traded hands, compared to its average volume of 916,900. The stock has a fifty day moving average of $7.08 and a two-hundred day moving average of $6.48. Centerra Gold Inc. has a 12-month low of $5.41 and a 12-month high of $7.82. The firm has a market cap of $1.51 billion, a P/E ratio of 38.42, a PEG ratio of 0.39 and a beta of 0.81.

Centerra Gold (NYSE:CGAU - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. Centerra Gold had a net margin of 3.68% and a return on equity of 8.71%. The business had revenue of $299.50 million during the quarter, compared to analyst estimates of $288.25 million. As a group, analysts expect that Centerra Gold Inc. will post 0.59 earnings per share for the current fiscal year.

Centerra Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were given a dividend of $0.07 per share. The ex-dividend date was Thursday, May 22nd. This represents a $0.28 annualized dividend and a yield of 3.84%. Centerra Gold's payout ratio is 105.26%.

Analyst Upgrades and Downgrades

CGAU has been the subject of several research analyst reports. CIBC reaffirmed a "neutral" rating on shares of Centerra Gold in a research note on Thursday, March 20th. Cibc World Mkts raised Centerra Gold from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. National Bankshares reissued an "outperform" rating on shares of Centerra Gold in a report on Tuesday, June 24th. Raymond James Financial reissued an "outperform" rating on shares of Centerra Gold in a report on Friday, April 4th. Finally, Scotiabank reissued an "outperform" rating on shares of Centerra Gold in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Centerra Gold presently has a consensus rating of "Moderate Buy" and an average target price of $11.00.

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.