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

Centerra Gold Inc. (NYSE:CGAUGet Free Report) was the target of a large growth in short interest in 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 trading volume, of 543,800 shares, the days-to-cover ratio is presently 2.1 days. Currently, 0.5% of the company’s stock are sold short.

Wall Street Analyst Weigh In

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

Read Our Latest Report on CGAU

Centerra Gold Trading Down 1.2 %

Shares of Centerra Gold stock traded down $0.08 on Monday, hitting $6.74. The stock had a trading volume of 232,346 shares, compared to its average volume of 457,235. Centerra Gold has a 52-week low of $4.47 and a 52-week high of $7.51. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 24.85 and a beta of 0.99. The company’s 50 day moving average price is $6.57 and its 200 day moving average price is $5.93.

Centerra Gold (NYSE:CGAUGet Free Report) last posted its earnings results 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 firm had revenue of $305.88 million during the quarter. Centerra Gold had a net margin of 4.99% and a return on equity of 5.58%. During the same period in the prior year, the firm earned ($0.24) earnings per share. Analysts predict that Centerra Gold will post 0.8 EPS for the current fiscal year.

Centerra Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 29th were issued a dividend of $0.051 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Wednesday, May 29th. Centerra Gold’s dividend payout ratio (DPR) is presently 74.07%.

Institutional Investors Weigh In On Centerra Gold

Large investors have recently bought and sold shares of the stock. Donald Smith & CO. Inc. grew its holdings in Centerra Gold by 27.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 9,879,956 shares of the company’s stock valued at $58,885,000 after buying an additional 2,156,920 shares during the last quarter. American Century Companies Inc. grew its holdings in Centerra Gold by 99.6% during the 3rd quarter. American Century Companies Inc. now owns 1,135,677 shares of the company’s stock valued at $5,552,000 after buying an additional 566,652 shares during the last quarter. Vanguard Group Inc. grew its holdings in Centerra Gold by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 8,031,893 shares of the company’s stock valued at $39,356,000 after buying an additional 220,263 shares during the last quarter. Deutsche Bank AG grew its holdings in Centerra Gold by 818.1% during the 3rd quarter. Deutsche Bank AG now owns 169,704 shares of the company’s stock valued at $832,000 after buying an additional 151,220 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Centerra Gold by 1.2% during the 4th quarter. Van ECK Associates Corp now owns 20,482,153 shares of the company’s stock worth $122,339,000 after purchasing an additional 244,155 shares during the period. Institutional investors and hedge funds own 55.40% of the company’s stock.

Centerra Gold Company Profile

(Get Free Report)

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.

Further Reading

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