Centerra Gold Inc. (NYSE:CGAU) Short Interest Update

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

Centerra Gold Price Performance

Shares of CGAU opened at $6.08 on Thursday. The company has a market cap of $1.31 billion, a P/E ratio of -16.58 and a beta of 0.94. The stock has a fifty day moving average price of $5.78 and a 200 day moving average price of $5.61. Centerra Gold has a 12 month low of $4.47 and a 12 month high of $7.08.

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

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 13th were paid a dividend of $0.0518 per share. The ex-dividend date was Tuesday, March 12th. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.41%. Centerra Gold’s payout ratio is -43.24%.

Hedge Funds Weigh In On Centerra Gold

Hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in Centerra Gold by 7.6% in the 1st quarter. Van ECK Associates Corp now owns 22,034,754 shares of the company’s stock worth $130,191,000 after purchasing an additional 1,552,601 shares during the period. Donald Smith & CO. Inc. raised its stake in shares of Centerra Gold by 27.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 9,879,956 shares of the company’s stock worth $58,885,000 after purchasing an additional 2,156,920 shares in the last quarter. Ruffer LLP raised its position in Centerra Gold by 18.5% during the third quarter. Ruffer LLP now owns 8,547,150 shares of the company’s stock worth $42,371,000 after acquiring an additional 1,331,400 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Centerra Gold by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 8,031,893 shares of the company’s stock valued at $39,356,000 after purchasing an additional 220,263 shares during the period. Finally, Mackenzie Financial Corp increased its position in Centerra Gold by 91.9% during the third quarter. Mackenzie Financial Corp now owns 3,384,834 shares of the company’s stock worth $15,775,000 after buying an additional 1,621,158 shares during the last quarter. 55.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.