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

Centerra Gold Inc. (NYSE:CGAU) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 2,040,000 shares, a growth of 10.3% from the August 31st total of 1,850,000 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily trading volume, of 838,000 shares, the short-interest ratio is currently 2.4 days.

Centerra Gold Trading Up 1.3 %

NYSE CGAU traded up $0.09 during trading on Tuesday, reaching $7.26. The company’s stock had a trading volume of 843,061 shares, compared to its average volume of 613,060. The stock has a market capitalization of $1.55 billion, a PE ratio of 26.87 and a beta of 0.98. Centerra Gold has a 1-year low of $4.47 and a 1-year high of $7.82. The business has a 50-day moving average price of $6.91 and a 200-day moving average price of $6.66.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.07. The business had revenue of $282.31 million during the quarter. Centerra Gold had a net margin of 10.68% and a return on equity of 10.72%. During the same period in the previous year, the firm posted ($0.20) EPS. As a group, analysts expect that Centerra Gold will post 0.82 earnings per share for the current year.

Centerra Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.051 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Thursday, August 15th. Centerra Gold’s dividend payout ratio is 74.07%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CGAU. Quadrature Capital Ltd grew its stake in Centerra Gold by 118.5% in the 1st quarter. Quadrature Capital Ltd now owns 295,800 shares of the company’s stock valued at $1,742,000 after buying an additional 160,400 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Centerra Gold by 309.6% in the first quarter. Acadian Asset Management LLC now owns 1,275,800 shares of the company’s stock valued at $7,527,000 after buying an additional 964,294 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Centerra Gold by 80.0% in the 1st quarter. Russell Investments Group Ltd. now owns 117,034 shares of the company’s stock worth $692,000 after acquiring an additional 52,014 shares during the period. Old West Investment Management LLC acquired a new stake in Centerra Gold during the second quarter worth $1,344,000. Finally, CIBC Asset Management Inc boosted its position in shares of Centerra Gold by 2.1% during the 4th quarter. CIBC Asset Management Inc now owns 211,525 shares of the company’s stock valued at $1,267,000 after acquiring an additional 4,327 shares in the last quarter. 55.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CGAU. CIBC reaffirmed a “neutral” rating and set a $13.00 target price (up previously from $11.00) on shares of Centerra Gold in a research note on Wednesday, July 10th. Cibc World Mkts lowered shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

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.