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

Centerra Gold logo with Basic Materials background

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) was the recipient of a significant growth in short interest in 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 stock are sold short.

Centerra Gold Stock Performance

Shares of CGAU traded up $0.17 during mid-day trading on Monday, hitting $5.96. 1,219,086 shares of the stock were exchanged, compared to its average volume of 656,879. The company has a market cap of $1.26 billion, a PE ratio of 12.44 and a beta of 0.98. Centerra Gold has a 52-week low of $4.47 and a 52-week high of $7.82. The firm has a 50-day moving average of $6.94 and a two-hundred day moving average of $6.86.

Centerra Gold (NYSE:CGAU - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The company had revenue of $323.93 million during the quarter. Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. During the same period last year, the firm earned $0.20 earnings per share. On average, sell-side analysts predict that Centerra Gold will post 0.81 EPS for the current year.

Centerra Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.052 dividend. This represents a $0.21 annualized dividend and a yield of 3.49%. The ex-dividend date is Wednesday, November 13th. This is an increase from Centerra Gold's previous quarterly dividend of $0.05. Centerra Gold's dividend payout ratio (DPR) is currently 43.75%.

Hedge Funds Weigh In On Centerra Gold

A number of institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its stake in Centerra Gold by 80.0% in the first quarter. Russell Investments Group Ltd. now owns 117,034 shares of the company's stock worth $692,000 after purchasing an additional 52,014 shares in the last quarter. Acadian Asset Management LLC increased 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 valued at $7,527,000 after buying an additional 964,294 shares during the period. Donald Smith & CO. Inc. raised its stake in Centerra Gold by 8.8% in the first quarter. Donald Smith & CO. Inc. now owns 10,747,290 shares of the company's stock worth $63,516,000 after buying an additional 867,334 shares in the last quarter. Nokomis Capital L.L.C. purchased a new stake in Centerra Gold during the first quarter worth $3,177,000. Finally, CM Management LLC lifted its holdings in Centerra Gold by 66.7% during the first quarter. CM Management LLC now owns 250,000 shares of the company's stock worth $1,478,000 after buying an additional 100,000 shares during the period. 55.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Desjardins raised shares of 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 given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.00.

Read Our Latest Stock Analysis on CGAU

About Centerra Gold

(Get Free Report)

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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