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

Allspring Global Investments Holdings LLC boosted its holdings in Centerra Gold Inc. (NYSE:CGAU - Free Report) by 131.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 588,681 shares of the company's stock after purchasing an additional 334,719 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.28% of Centerra Gold worth $3,346,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CGAU. CWM LLC bought a new stake in Centerra Gold in the third quarter worth approximately $57,000. SG Americas Securities LLC bought a new stake in Centerra Gold in the fourth quarter worth approximately $59,000. Wilmington Savings Fund Society FSB bought a new stake in Centerra Gold in the fourth quarter worth approximately $80,000. Capstone Investment Advisors LLC bought a new stake in Centerra Gold in the third quarter worth approximately $89,000. Finally, HighTower Advisors LLC bought a new stake in Centerra Gold in the third quarter worth approximately $127,000. 55.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CGAU shares. Desjardins downgraded Centerra Gold from a "moderate buy" rating to a "hold" rating in a report on Thursday, February 13th. Scotiabank reduced their price objective on Centerra Gold from $10.00 to $9.00 and set a "sector outperform" rating for the company in a research note on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Centerra Gold has a consensus rating of "Hold" and an average target price of $11.00.

Centerra Gold Stock Performance

Centerra Gold stock traded down $0.48 during mid-day trading on Friday, reaching $6.17. The stock had a trading volume of 1,135,966 shares, compared to its average volume of 648,087. Centerra Gold Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $7.82. The stock's 50-day simple moving average is $6.07 and its 200-day simple moving average is $6.51. The firm has a market capitalization of $1.30 billion, a PE ratio of 17.15 and a beta of 0.91.

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

Centerra Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $0.07 per share. This is a boost from Centerra Gold's previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.28 annualized dividend and a dividend yield of 4.54%. Centerra Gold's payout ratio is presently 61.11%.

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.