Centerra Gold Inc. (NYSE:CGAU) Sees Significant Growth in Short Interest

Centerra Gold Inc. (NYSE:CGAU) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 2,040,000 shares, a growth of 10.3% from the August 31st total of 1,850,000 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average daily volume of 838,000 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC raised its position in shares of Centerra Gold by 12.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock worth $96,000 after acquiring an additional 1,573 shares during the period. Virtu Financial LLC acquired a new position in shares of Centerra Gold in the first quarter worth about $113,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Centerra Gold in the second quarter worth about $131,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Centerra Gold in the second quarter worth about $154,000. Finally, Toronto Dominion Bank raised its position in shares of Centerra Gold by 184.6% in the second quarter. Toronto Dominion Bank now owns 27,614 shares of the company’s stock worth $186,000 after acquiring an additional 17,912 shares during the period. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CGAU has been the topic of several analyst reports. Cibc World Mkts lowered shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. CIBC reissued a “neutral” rating and set a $13.00 price objective (up from $11.00) on shares of Centerra Gold in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Centerra Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Centerra Gold Stock Up 1.3 %

Shares of CGAU traded up $0.09 during trading hours on Tuesday, reaching $7.26. 843,061 shares of the company traded hands, compared to its average volume of 613,060. The stock has a market capitalization of $1.55 billion, a P/E ratio of 26.87 and a beta of 0.98. The business has a fifty day moving average price of $6.91 and a 200-day moving average price of $6.66. Centerra Gold has a 12-month low of $4.47 and a 12-month high of $7.82.

Centerra Gold (NYSE:CGAU) last posted its earnings results on Thursday, August 1st. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.07. The company had revenue of $282.31 million during the quarter. Centerra Gold had a net margin of 10.68% and a return on equity of 10.72%. During the same quarter in the prior year, the firm earned ($0.20) earnings per share. As a group, research analysts predict that Centerra Gold will post 0.82 EPS for the current fiscal year.

Centerra Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.051 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.20 dividend on an annualized basis and a yield of 2.81%. Centerra Gold’s dividend payout ratio is presently 74.07%.

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.