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

Centerra Gold Inc. (NYSE:CGAUGet Free Report) was the recipient of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 1,130,000 shares, an increase of 30.0% from the May 15th total of 869,400 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average trading volume of 543,800 shares, the short-interest ratio is currently 2.1 days.

Institutional Investors Weigh In On Centerra Gold

A number of hedge funds and other institutional investors have recently modified their holdings of CGAU. Donald Smith & CO. Inc. grew its stake in shares of Centerra Gold by 27.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 9,879,956 shares of the company’s stock valued at $58,885,000 after acquiring an additional 2,156,920 shares in the last quarter. Pale Fire Capital SE grew its position in shares of Centerra Gold by 1,136.9% during the 4th quarter. Pale Fire Capital SE now owns 1,807,787 shares of the company’s stock worth $10,774,000 after purchasing an additional 1,661,638 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Centerra Gold during the fourth quarter worth approximately $9,540,000. Van ECK Associates Corp raised its position in shares of Centerra Gold by 7.6% in the first quarter. Van ECK Associates Corp now owns 22,034,754 shares of the company’s stock valued at $130,191,000 after buying an additional 1,552,601 shares in the last quarter. Finally, Ruffer LLP boosted its stake in shares of Centerra Gold by 18.5% in the third quarter. Ruffer LLP now owns 8,547,150 shares of the company’s stock valued at $42,371,000 after buying an additional 1,331,400 shares during the period. Institutional investors and hedge funds own 55.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CGAU shares. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Centerra Gold in a research report on Monday, April 8th. CIBC lifted their price target on shares of Centerra Gold from $9.50 to $11.00 and gave the company an “outperformer” rating in a research note on Monday, April 15th. Scotiabank upped their price target on shares of Centerra Gold from $8.00 to $9.00 and gave the company a “sector outperform” rating in a report on Thursday, May 23rd. Finally, BMO Capital Markets initiated coverage on shares of Centerra Gold in a report on Wednesday, February 21st. They set an “outperform” rating on the stock. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $9.34.

View Our Latest Report on Centerra Gold

Centerra Gold Price Performance

NYSE:CGAU traded up $0.12 on Friday, hitting $6.82. 758,827 shares of the company’s stock were exchanged, compared to its average volume of 628,918. Centerra Gold has a 52 week low of $4.47 and a 52 week high of $7.51. The firm has a 50-day moving average price of $6.57 and a 200-day moving average price of $5.93. The company has a market cap of $1.46 billion, a P/E ratio of 25.26 and a beta of 0.99.

Centerra Gold (NYSE:CGAUGet Free Report) last announced its quarterly earnings results on Tuesday, May 14th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The firm had revenue of $305.88 million during the quarter. Centerra Gold had a net margin of 4.99% and a return on equity of 5.58%. During the same period in the prior year, the company posted ($0.24) EPS. On average, research analysts expect that Centerra Gold will post 0.8 earnings per share for the current fiscal year.

Centerra Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Wednesday, May 29th were issued a dividend of $0.051 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend was Wednesday, May 29th. Centerra Gold’s payout ratio is currently 74.07%.

About Centerra Gold

(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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