Centerra Gold Inc. (NYSE:CGAU) Short Interest Up 6.7% in April

Centerra Gold Inc. (NYSE:CGAU) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 1,120,000 shares, a growth of 6.7% from the March 31st total of 1,050,000 shares. Based on an average daily volume of 461,200 shares, the days-to-cover ratio is currently 2.4 days. Currently, 0.5% of the company’s shares are sold short.

Institutional Trading of Centerra Gold

Institutional investors have recently modified their holdings of the company. CIBC Asset Management Inc lifted its stake in Centerra Gold by 1.8% during the third quarter. CIBC Asset Management Inc now owns 207,198 shares of the company’s stock worth $1,016,000 after purchasing an additional 3,640 shares during the period. CoreCommodity Management LLC lifted its position in shares of Centerra Gold by 2.7% during the 4th quarter. CoreCommodity Management LLC now owns 348,100 shares of the company’s stock worth $2,085,000 after buying an additional 9,000 shares during the period. Versor Investments LP acquired a new stake in Centerra Gold in the 3rd quarter valued at $52,000. Mirae Asset Global Investments Co. Ltd. grew its position in Centerra Gold by 7.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 174,426 shares of the company’s stock valued at $1,142,000 after acquiring an additional 12,257 shares during the period. Finally, Heron Bay Capital Management acquired a new position in Centerra Gold during the fourth quarter worth $77,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. National Bank Financial reissued an “outperform overweight” rating on shares of Centerra Gold in a research note on Monday, April 8th. CIBC boosted their target price on Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a report on Monday, April 15th. Finally, BMO Capital Markets started coverage on Centerra Gold in a report on Wednesday, February 21st. They set an “outperform” rating on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Centerra Gold has an average rating of “Buy” and a consensus price target of $9.78.

Centerra Gold Stock Performance

Shares of CGAU traded down $0.07 during mid-day trading on Thursday, hitting $6.06. The company’s stock had a trading volume of 58,468 shares, compared to its average volume of 406,160. Centerra Gold has a one year low of $4.47 and a one year high of $7.08. The stock’s 50-day moving average is $5.78 and its two-hundred day moving average is $5.61. The firm has a market capitalization of $1.30 billion, a PE ratio of -16.58 and a beta of 0.94.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). Centerra Gold had a positive return on equity of 0.62% and a negative net margin of 7.43%. The company had revenue of $340.00 million for the quarter. Analysts expect that Centerra Gold will post 0.55 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 13th were given a $0.0518 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.42%. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio (DPR) is currently -43.24%.

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.