Short Interest in Centerra Gold Inc. (NYSE:CGAU) Expands By 5.9%

Centerra Gold Inc. (NYSE:CGAU) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 2,530,000 shares, an increase of 5.9% from the December 15th total of 2,390,000 shares. Currently, 1.2% of the company’s stock are short sold. Based on an average trading volume of 922,400 shares, the short-interest ratio is currently 2.7 days.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Desjardins raised Centerra Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Scotiabank dropped their price target on shares of Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Centerra Gold has an average rating of “Moderate Buy” and an average target price of $11.00.

Centerra Gold Price Performance

Shares of NYSE CGAU traded down $0.02 during trading hours on Friday, hitting $5.83. 653,238 shares of the company’s stock were exchanged, compared to its average volume of 932,529. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 12.14 and a beta of 0.90. The company’s 50-day moving average price is $5.88 and its 200-day moving average price is $6.57. Centerra Gold has a 1-year low of $4.47 and a 1-year high of $7.82.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $323.93 million during the quarter. Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. During the same period last year, the company earned $0.20 earnings per share. On average, research analysts expect that Centerra Gold will post 0.77 earnings per share for the current year.

Centerra Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.052 dividend. This represents a $0.21 annualized dividend and a yield of 3.57%. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Wednesday, November 13th. Centerra Gold’s dividend payout ratio (DPR) is currently 45.83%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can lifted its stake in shares of Centerra Gold by 158.9% in the second quarter. Bank of Montreal Can now owns 2,433,241 shares of the company’s stock valued at $16,881,000 after buying an additional 1,493,349 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Centerra Gold by 36.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock worth $31,514,000 after purchasing an additional 1,175,000 shares in the last quarter. American Century Companies Inc. increased its position in shares of Centerra Gold by 132.8% during the second quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock valued at $12,345,000 after purchasing an additional 1,047,142 shares during the period. Mackenzie Financial Corp raised its stake in shares of Centerra Gold by 111.3% in the second quarter. Mackenzie Financial Corp now owns 1,493,717 shares of the company’s stock valued at $10,046,000 after purchasing an additional 786,688 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Centerra Gold in the third quarter worth $4,454,000. Institutional investors own 55.40% of the company’s stock.

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.