Centerra Gold Inc. (NYSE:CGAU) Short Interest Update

Centerra Gold Inc. (NYSE:CGAU) was the recipient of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,120,000 shares, an increase of 6.7% from the March 31st total of 1,050,000 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average daily volume of 461,200 shares, the days-to-cover ratio is presently 2.4 days.

Institutional Trading of Centerra Gold

Several institutional investors have recently made changes to their positions in CGAU. Versor Investments LP purchased a new stake in shares of Centerra Gold in the third quarter worth about $52,000. Heron Bay Capital Management bought a new position in shares of Centerra Gold in the 4th quarter valued at about $77,000. Dynamic Technology Lab Private Ltd purchased a new position in Centerra Gold in the fourth quarter worth about $98,000. Hsbc Holdings PLC increased its stake in Centerra Gold by 134.2% during the third quarter. Hsbc Holdings PLC now owns 35,587 shares of the company’s stock worth $174,000 after acquiring an additional 20,389 shares during the last quarter. Finally, Insigneo Advisory Services LLC purchased a new position in shares of Centerra Gold in the 3rd quarter worth approximately $223,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Centerra Gold Price Performance

Shares of Centerra Gold stock opened at $6.08 on Thursday. The stock has a market capitalization of $1.31 billion, a PE ratio of -16.58 and a beta of 0.94. Centerra Gold has a 1-year low of $4.47 and a 1-year high of $7.08. The company’s fifty day simple moving average is $5.78 and its 200-day simple moving average is $5.61.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). The company had revenue of $340.00 million during the quarter. Centerra Gold had a positive return on equity of 0.62% and a negative net margin of 7.43%. As a group, research analysts anticipate that Centerra Gold will post 0.55 EPS for the current year.

Centerra Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 13th were paid a dividend of $0.0518 per share. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.41%. Centerra Gold’s payout ratio is -43.24%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CGAU. BMO Capital Markets started coverage on Centerra Gold in a research report on Wednesday, February 21st. They set an “outperform” rating for the company. CIBC raised their price objective on Centerra Gold from $9.50 to $11.00 and gave the company an “outperformer” rating in a research report on Monday, April 15th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Centerra Gold in a research note on Monday, April 8th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Centerra Gold presently has a consensus rating of “Buy” and a consensus target price of $9.78.

About Centerra Gold

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.