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

Centerra Gold Inc. (NYSE:CGAU) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 2,530,000 shares, an increase of 5.9% from the December 31st total of 2,390,000 shares. Based on an average trading volume of 922,400 shares, the days-to-cover ratio is currently 2.7 days. Approximately 1.2% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Scotiabank reduced their price target on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a research report on Wednesday, January 15th. Desjardins raised Centerra Gold to a “moderate buy” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Institutional Investors Weigh In On Centerra Gold

A number of institutional investors and hedge funds have recently made changes to their positions in CGAU. Bank of Montreal Can raised its stake in shares of Centerra Gold by 59.0% during the 3rd quarter. Bank of Montreal Can now owns 3,869,035 shares of the company’s stock worth $28,690,000 after purchasing an additional 1,435,794 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Centerra Gold by 36.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock worth $31,514,000 after purchasing an additional 1,175,000 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Centerra Gold during the 3rd quarter worth approximately $4,454,000. Geode Capital Management LLC raised its stake in shares of Centerra Gold by 378.7% during the 3rd quarter. Geode Capital Management LLC now owns 454,939 shares of the company’s stock worth $4,152,000 after purchasing an additional 359,905 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Centerra Gold by 131.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 588,681 shares of the company’s stock worth $3,346,000 after purchasing an additional 334,719 shares in the last quarter. Institutional investors own 55.40% of the company’s stock.

Centerra Gold Stock Up 2.0 %

NYSE:CGAU opened at $6.37 on Tuesday. Centerra Gold has a twelve month low of $4.47 and a twelve month high of $7.82. The company has a market cap of $1.34 billion, a P/E ratio of 13.26 and a beta of 0.91. The business has a 50 day moving average price of $5.90 and a two-hundred day moving average price of $6.51.

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.