Centerra Gold Inc. (NYSE:CGAU) Short Interest Up 5.9% in January

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) saw a large increase in short interest in 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. Currently, 1.2% of the company's shares are sold short. Based on an average daily volume of 922,400 shares, the short-interest ratio is presently 2.7 days.

Wall Street Analysts Forecast Growth

CGAU has been the topic of a number of recent research reports. Desjardins raised shares of Centerra Gold to a "moderate buy" rating in a research note on Thursday, October 31st. Scotiabank reduced their price target on Centerra Gold from $10.00 to $9.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Centerra Gold has an average rating of "Moderate Buy" and a consensus price target of $11.00.

Centerra Gold Stock Down 1.0 %

Centerra Gold stock traded down $0.07 during midday trading on Thursday, hitting $6.73. 580,884 shares of the stock were exchanged, compared to its average volume of 677,295. The stock has a market capitalization of $1.41 billion, a PE ratio of 14.01 and a beta of 0.91. The company has a fifty day simple moving average of $5.94 and a two-hundred day simple moving average of $6.51. Centerra Gold has a 52 week low of $4.47 and a 52 week high of $7.82.

Institutional Investors Weigh In On Centerra Gold

Several hedge funds have recently bought and sold shares of CGAU. The Manufacturers Life Insurance Company increased its position in shares of Centerra Gold by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 178,489 shares of the company's stock valued at $1,199,000 after buying an additional 2,120 shares in the last quarter. CWM LLC bought a new stake in shares of Centerra Gold in the third quarter worth about $57,000. Semanteon Capital Management LP raised its position in shares of Centerra Gold by 152.3% during the third quarter. Semanteon Capital Management LP now owns 46,972 shares of the company's stock worth $336,000 after purchasing an additional 28,358 shares during the period. Integrated Advisors Network LLC bought a new position in shares of Centerra Gold during the 3rd quarter valued at about $367,000. Finally, Old West Investment Management LLC grew its position in shares of Centerra Gold by 100.0% in the 3rd quarter. Old West Investment Management LLC now owns 400,000 shares of the company's stock valued at $2,864,000 after purchasing an additional 200,000 shares during the period. 55.40% of the stock is currently owned by institutional investors and hedge funds.

About Centerra Gold

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.