Centerra Gold Inc. (NYSE:CGAU) Sees Significant Growth in Short Interest

Centerra Gold Inc. (NYSE:CGAUGet Free Report) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 553,500 shares, a growth of 7.5% from the February 29th total of 515,000 shares. Based on an average daily trading volume, of 345,300 shares, the short-interest ratio is presently 1.6 days. Approximately 0.3% of the shares of the company are short sold.

Centerra Gold Stock Up 1.3 %

CGAU traded up $0.08 during trading on Wednesday, reaching $6.05. 268,992 shares of the company were exchanged, compared to its average volume of 362,577. The company’s 50-day moving average is $5.41 and its two-hundred day moving average is $5.45. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -16.11 and a beta of 0.98. Centerra Gold has a 12-month low of $4.47 and a 12-month high of $7.71.

Centerra Gold (NYSE:CGAUGet Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The company had revenue of $340.00 million for the quarter. Centerra Gold had a positive return on equity of 0.62% and a negative net margin of 7.43%. Equities analysts forecast that Centerra Gold will post 0.34 earnings per share for the current year.

Centerra Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 13th were paid a $0.0518 dividend. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Tuesday, March 12th. Centerra Gold’s dividend payout ratio is currently -54.05%.

Hedge Funds Weigh In On Centerra Gold

A number of institutional investors have recently added to or reduced their stakes in CGAU. Cibc World Market Inc. increased its stake in Centerra Gold by 329.5% in the 1st quarter. Cibc World Market Inc. now owns 417,805 shares of the company’s stock worth $4,111,000 after acquiring an additional 320,529 shares during the last quarter. Vontobel Holding Ltd. increased its stake in Centerra Gold by 125.9% in the 1st quarter. Vontobel Holding Ltd. now owns 23,743 shares of the company’s stock worth $233,000 after acquiring an additional 13,233 shares during the last quarter. Vanguard Group Inc. increased its stake in Centerra Gold by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 7,156,995 shares of the company’s stock worth $70,424,000 after acquiring an additional 141,381 shares during the last quarter. Mackenzie Financial Corp increased its stake in Centerra Gold by 20.1% in the 1st quarter. Mackenzie Financial Corp now owns 679,096 shares of the company’s stock worth $6,687,000 after acquiring an additional 113,695 shares during the last quarter. Finally, Bridgewater Associates LP increased its stake in Centerra Gold by 145.3% in the 1st quarter. Bridgewater Associates LP now owns 67,617 shares of the company’s stock worth $665,000 after acquiring an additional 40,049 shares during the last quarter. 55.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. National Bank Financial reaffirmed an “outperform spec overweight” rating on shares of Centerra Gold in a research report on Wednesday, January 3rd. Raymond James dropped their price target on Centerra Gold from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday, December 29th. Finally, BMO Capital Markets began coverage on Centerra Gold in a report on Wednesday, February 21st. They set an “outperform” rating on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $9.78.

Read Our Latest Stock Report on Centerra Gold

Centerra Gold Company Profile

(Get Free Report)

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.

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