Short Interest in Centerra Gold Inc. (NYSE:CGAU) Rises By 18.4%

Centerra Gold Inc. (NYSE:CGAU) saw a large increase in short interest in November. As of November 15th, there was short interest totalling 2,890,000 shares, an increase of 18.4% from the October 31st total of 2,440,000 shares. Based on an average daily trading volume, of 966,000 shares, the short-interest ratio is presently 3.0 days. Approximately 1.4% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. CWM LLC purchased a new stake in shares of Centerra Gold in the third quarter worth $57,000. Capstone Investment Advisors LLC bought a new stake in Centerra Gold during the 3rd quarter valued at about $89,000. Vanguard Personalized Indexing Management LLC lifted its stake 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 buying an additional 1,573 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Centerra Gold in the first quarter worth approximately $113,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Centerra Gold during the third quarter valued at approximately $127,000. 55.40% of the stock is currently owned by institutional investors.

Centerra Gold Stock Performance

CGAU stock traded up $0.20 on Tuesday, reaching $6.15. The company’s stock had a trading volume of 113,765 shares, compared to its average volume of 655,814. The business has a fifty day simple moving average of $6.78 and a two-hundred day simple moving average of $6.83. The firm has a market cap of $1.30 billion, a PE ratio of 12.40 and a beta of 0.89. 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 quarterly earnings data on Thursday, October 31st. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. The firm had revenue of $323.93 million for the quarter. During the same quarter last year, the firm posted $0.20 earnings per share. As a group, research analysts anticipate that Centerra Gold will post 0.79 earnings per share for the current fiscal year.

Centerra Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.052 per share. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Wednesday, November 13th. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s payout ratio is 43.75%.

Analysts Set New Price Targets

Separately, Desjardins raised Centerra Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.00.

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.