Short Interest in Centerra Gold Inc. (NYSE:CGAU) Declines By 10.7%

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) saw a significant drop in short interest in November. As of November 30th, there was short interest totalling 2,580,000 shares, a drop of 10.7% from the November 15th total of 2,890,000 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average trading volume of 977,300 shares, the short-interest ratio is currently 2.6 days.

Wall Street Analysts Forecast Growth

Separately, Desjardins upgraded Centerra Gold to a "moderate buy" rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $11.00.

Centerra Gold Price Performance

Shares of Centerra Gold stock traded down $0.11 during trading hours on Tuesday, reaching $5.87. The company's stock had a trading volume of 1,137,829 shares, compared to its average volume of 673,772. The firm has a 50 day moving average price of $6.47 and a 200-day moving average price of $6.74. The stock has a market cap of $1.24 billion, a P/E ratio of 12.23 and a beta of 0.89. Centerra Gold has a one year low of $4.47 and a one year high of $7.82.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). The company 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 in the previous year, the business posted $0.20 EPS. As a group, sell-side analysts forecast that Centerra Gold will post 0.79 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.052 per share. This represents a $0.21 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Wednesday, November 13th. This is a positive change from Centerra Gold's previous quarterly dividend of $0.05. Centerra Gold's payout ratio is 41.67%.

Institutional Investors Weigh In On Centerra Gold

Hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC purchased a new position in shares of Centerra Gold during the third quarter valued at $57,000. Capstone Investment Advisors LLC acquired a new position in shares of Centerra Gold during the third quarter valued at about $89,000. Vanguard Personalized Indexing Management LLC increased its position in shares of Centerra Gold by 12.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company's stock valued at $96,000 after acquiring an additional 1,573 shares during the period. HighTower Advisors LLC purchased a new position in shares of Centerra Gold in the third quarter worth about $127,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Centerra Gold in the second quarter valued at approximately $131,000. 55.40% of the stock is currently 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.

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