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

Centerra Gold Inc. (NYSE:CGAU) saw a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,440,000 shares, a growth of 13.0% from the October 15th total of 2,160,000 shares. Based on an average daily trading volume, of 981,300 shares, the days-to-cover ratio is presently 2.5 days. Approximately 1.2% of the shares of the company are short sold.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd grew its holdings in Centerra Gold by 118.5% during the first quarter. Quadrature Capital Ltd now owns 295,800 shares of the company’s stock worth $1,742,000 after acquiring an additional 160,400 shares during the period. Acadian Asset Management LLC grew its holdings in Centerra Gold by 309.6% during the first quarter. Acadian Asset Management LLC now owns 1,275,800 shares of the company’s stock worth $7,527,000 after acquiring an additional 964,294 shares during the period. Russell Investments Group Ltd. grew its holdings in Centerra Gold by 80.0% during the first 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 purchased a new position in Centerra Gold in the 2nd quarter worth about $1,344,000. Finally, Renaissance Technologies LLC increased its stake in Centerra Gold by 29.0% in the 2nd quarter. Renaissance Technologies LLC now owns 327,800 shares of the company’s stock worth $2,203,000 after purchasing an additional 73,600 shares in the last quarter. 55.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Desjardins upgraded Centerra Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Centerra Gold Price Performance

Shares of CGAU traded up $0.17 during trading hours on Monday, reaching $5.95. 219,584 shares of the company’s stock traded hands, compared to its average volume of 652,397. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 12.44 and a beta of 0.98. Centerra Gold has a twelve month low of $4.47 and a twelve month high of $7.82. The business’s fifty day simple moving average is $6.94 and its two-hundred day simple moving average is $6.86.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $323.93 million for the quarter. Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. During the same quarter last year, the business earned $0.20 earnings per share. On average, equities research analysts expect that Centerra Gold will post 0.81 EPS for the current year.

Centerra Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.052 per share. 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 3.50%. The ex-dividend date is Wednesday, November 13th. Centerra Gold’s payout ratio is presently 43.75%.

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.