Short Interest in Centerra Gold Inc. (NYSE:CGAU) Drops By 10.7%

Centerra Gold Inc. (NYSE:CGAU) was the target of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 2,580,000 shares, a decline of 10.7% from the November 15th total of 2,890,000 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 977,300 shares, the short-interest ratio is currently 2.6 days.

Analyst Ratings Changes

Separately, Desjardins raised Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Institutional Investors Weigh In On Centerra Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC boosted its position in shares of Centerra Gold by 12.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock worth $96,000 after purchasing an additional 1,573 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Centerra Gold by 4.1% during the second quarter. Hsbc Holdings PLC now owns 48,101 shares of the company’s stock worth $325,000 after buying an additional 1,895 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Centerra Gold by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 178,489 shares of the company’s stock worth $1,199,000 after buying an additional 2,120 shares during the period. TD Asset Management Inc increased its stake in shares of Centerra Gold by 0.7% in the 2nd quarter. TD Asset Management Inc now owns 587,062 shares of the company’s stock valued at $3,947,000 after acquiring an additional 4,356 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Centerra Gold by 8.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,308 shares of the company’s stock valued at $419,000 after acquiring an additional 4,373 shares during the period. Institutional investors and hedge funds own 55.40% of the company’s stock.

Centerra Gold Trading Down 1.8 %

CGAU traded down $0.11 during trading on Tuesday, hitting $5.87. The stock had a trading volume of 1,137,829 shares, compared to its average volume of 673,772. Centerra Gold has a 12 month low of $4.47 and a 12 month high of $7.82. The company has a 50 day simple moving average of $6.47 and a 200-day simple moving average of $6.74. The firm has a market cap of $1.24 billion, a PE ratio of 12.23 and a beta of 0.89.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. The company had revenue of $323.93 million during the quarter. During the same period in the previous year, the business posted $0.20 earnings per share. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.052 dividend. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.21 annualized dividend and a yield of 3.54%. Centerra Gold’s payout ratio is presently 41.67%.

Centerra Gold Company Profile

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.