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

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) was the target of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 2,650,000 shares, a decline of 26.6% from the February 28th total of 3,610,000 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily volume of 952,800 shares, the days-to-cover ratio is currently 2.8 days.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CGAU shares. Cormark cut shares of Centerra Gold from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Desjardins lowered Centerra Gold from a "moderate buy" rating to a "hold" rating in a research report on Thursday, February 13th. Scotiabank dropped their target price 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. CIBC reaffirmed a "neutral" rating on shares of Centerra Gold in a research note on Thursday, March 20th. Finally, National Bank Financial raised shares of Centerra Gold to a "strong-buy" rating in a research note on Friday, March 21st. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $11.00.

Centerra Gold Stock Performance

Shares of NYSE CGAU traded down $0.08 during midday trading on Thursday, hitting $6.21. 510,783 shares of the company traded hands, compared to its average volume of 823,262. Centerra Gold has a 12-month low of $5.46 and a 12-month high of $7.82. The stock has a 50-day moving average price of $6.19 and a 200 day moving average price of $6.33. The firm has a market cap of $1.30 billion, a P/E ratio of 17.25 and a beta of 0.92.

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Centerra Gold (NYSE:CGAU - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.03). The firm had revenue of $302.40 million during the quarter, compared to analysts' expectations of $316.92 million. Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. As a group, equities analysts expect that Centerra Gold will post 0.59 earnings per share for the current year.

Centerra Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $0.07 per share. This is an increase from Centerra Gold's previous quarterly dividend of $0.05. The ex-dividend date was Thursday, March 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.51%. Centerra Gold's dividend payout ratio (DPR) is currently 52.78%.

Institutional Investors Weigh In On Centerra Gold

A number of institutional investors have recently modified their holdings of the stock. Donald Smith & CO. Inc. increased its position in shares of Centerra Gold by 30.1% during the fourth quarter. Donald Smith & CO. Inc. now owns 8,723,060 shares of the company's stock valued at $49,634,000 after acquiring an additional 2,017,756 shares in the last quarter. Amundi boosted its stake in Centerra Gold by 168.6% during the 4th quarter. Amundi now owns 2,628,623 shares of the company's stock valued at $15,377,000 after purchasing an additional 1,650,160 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Centerra Gold by 59.0% in 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. Arrowstreet Capital Limited Partnership raised its stake in shares of Centerra Gold by 24.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,808,773 shares of the company's stock worth $33,028,000 after purchasing an additional 1,126,825 shares during the last quarter. Finally, Man Group plc lifted its holdings in shares of Centerra Gold by 43.2% during the fourth quarter. Man Group plc now owns 3,038,739 shares of the company's stock valued at $17,283,000 after purchasing an additional 916,255 shares in the last quarter. 55.40% of the stock is owned by hedge funds and other institutional investors.

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.