Short Interest in Centerra Gold Inc. (NYSE:CGAU) Expands By 5.9%

Centerra Gold Inc. (NYSE:CGAU) was the recipient of a large increase in short interest during 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. Approximately 1.2% of the shares of the stock are short sold. Based on an average daily volume of 922,400 shares, the days-to-cover ratio is presently 2.7 days.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Scotiabank decreased their price target on shares of Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, January 15th. 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 two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Centerra Gold Trading Down 1.1 %

Shares of CGAU stock opened at $6.25 on Monday. Centerra Gold has a twelve month low of $4.47 and a twelve month high of $7.82. The company’s 50-day moving average price is $5.89 and its 200-day moving average price is $6.51. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 13.02 and a beta of 0.90.

Centerra Gold (NYSE:CGAU) last issued its earnings results on Thursday, October 31st. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. The firm had revenue of $323.93 million for the quarter. During the same quarter in the previous year, the business earned $0.20 earnings per share. As a group, equities research analysts predict that Centerra Gold will post 0.77 EPS for the current year.

Institutional Investors Weigh In On Centerra Gold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Centerra Gold by 36.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock worth $31,514,000 after purchasing an additional 1,175,000 shares during the period. Bank of Montreal Can boosted its position in shares of Centerra Gold by 59.0% during the third quarter. Bank of Montreal Can now owns 3,869,035 shares of the company’s stock worth $28,690,000 after buying an additional 1,435,794 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Centerra Gold in the third quarter valued at $4,454,000. National Bank of Canada FI grew its stake in shares of Centerra Gold by 17.9% in the third quarter. National Bank of Canada FI now owns 608,701 shares of the company’s stock valued at $4,368,000 after buying an additional 92,255 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Centerra Gold by 131.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 588,681 shares of the company’s stock valued at $3,346,000 after buying an additional 334,719 shares during the period. Hedge funds and other institutional investors own 55.40% of the company’s stock.

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.