Centerra Gold Inc. (NYSE:CGAU) Sees Large Increase in Short Interest

Centerra Gold Inc. (NYSE:CGAU) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 2,440,000 shares, an increase of 13.0% from the October 15th total of 2,160,000 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average trading volume of 981,300 shares, the short-interest ratio is presently 2.5 days.

Analysts Set New Price Targets

Separately, Desjardins upgraded shares of Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.00.

Centerra Gold Stock Performance

Shares of CGAU stock traded up $0.21 on Monday, reaching $5.99. 182,240 shares of the company’s stock traded hands, compared to its average volume of 652,229. Centerra Gold has a 12-month low of $4.47 and a 12-month high of $7.82. The company has a market capitalization of $1.27 billion, a P/E ratio of 12.44 and a beta of 0.98. The business’s 50 day moving average price is $6.94 and its two-hundred day moving average price is $6.86.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $323.93 million for the quarter. Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. During the same period in the previous year, the business earned $0.20 earnings per share. Research analysts predict that Centerra Gold will post 0.81 earnings per share for the current year.

Centerra Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $0.052 dividend. This represents a $0.21 annualized dividend and a yield of 3.47%. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date is Wednesday, November 13th. Centerra Gold’s payout ratio is currently 43.75%.

Institutional Investors Weigh In On Centerra Gold

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its position in shares of Centerra Gold by 378.7% in the third quarter. Geode Capital Management LLC now owns 454,939 shares of the company’s stock valued at $4,152,000 after acquiring an additional 359,905 shares during the period. Barclays PLC increased its holdings in shares of Centerra Gold by 284.5% during the 3rd quarter. Barclays PLC now owns 74,930 shares of the company’s stock worth $537,000 after purchasing an additional 55,444 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Centerra Gold in the third quarter valued at about $4,454,000. Y Intercept Hong Kong Ltd grew its position in Centerra Gold by 34.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 119,123 shares of the company’s stock valued at $853,000 after acquiring an additional 30,264 shares during the period. Finally, National Bank of Canada FI lifted its holdings in shares of Centerra Gold by 17.9% during the third quarter. National Bank of Canada FI now owns 608,701 shares of the company’s stock valued at $4,368,000 after acquiring an additional 92,255 shares during the period. Institutional investors and hedge funds 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.