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

Centerra Gold Inc. (NYSE:CGAU) was the target of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 1,130,000 shares, a growth of 30.0% from the May 15th total of 869,400 shares. Based on an average daily volume of 543,800 shares, the days-to-cover ratio is presently 2.1 days. Approximately 0.5% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CGAU shares. CIBC increased their target price on shares of Centerra Gold from $9.50 to $11.00 and gave the company an “outperformer” rating in a research report on Monday, April 15th. National Bank Financial reiterated an “outperform overweight” rating on shares of Centerra Gold in a report on Monday, April 8th. Scotiabank increased their target price on Centerra Gold from $8.00 to $9.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 23rd. Finally, BMO Capital Markets assumed coverage on Centerra Gold in a report on Wednesday, February 21st. They issued an “outperform” rating on the stock. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $9.34.

Centerra Gold Trading Down 1.2 %

Shares of Centerra Gold stock traded down $0.08 on Monday, reaching $6.74. The stock had a trading volume of 232,346 shares, compared to its average volume of 457,235. Centerra Gold has a 1 year low of $4.47 and a 1 year high of $7.51. The company has a market cap of $1.44 billion, a P/E ratio of 24.85 and a beta of 0.99. The business’s 50 day moving average is $6.57 and its two-hundred day moving average is $5.93.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Tuesday, May 14th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $305.88 million during the quarter. Centerra Gold had a return on equity of 5.58% and a net margin of 4.99%. During the same quarter last year, the business posted ($0.24) EPS. On average, equities analysts anticipate that Centerra Gold will post 0.8 EPS for the current fiscal year.

Centerra Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Wednesday, May 29th were given a $0.051 dividend. This represents a $0.20 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Wednesday, May 29th. Centerra Gold’s dividend payout ratio (DPR) is 74.07%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Heron Bay Capital Management bought a new position in shares of Centerra Gold in the fourth quarter worth approximately $77,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Centerra Gold in the fourth quarter worth approximately $98,000. Virtu Financial LLC bought a new position in shares of Centerra Gold in the first quarter worth approximately $113,000. Hsbc Holdings PLC increased its position in shares of Centerra Gold by 134.2% in the third quarter. Hsbc Holdings PLC now owns 35,587 shares of the company’s stock worth $174,000 after purchasing an additional 20,389 shares during the last quarter. Finally, Insigneo Advisory Services LLC bought a new position in shares of Centerra Gold in the third quarter worth approximately $223,000. 55.40% of the stock is currently owned by institutional investors.

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.