Centerra Gold Inc. (NYSE:CGAU) Short Interest Up 17.1% in January

Centerra Gold Inc. (NYSE:CGAU) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 3,420,000 shares, an increase of 17.1% from the January 15th total of 2,920,000 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average trading volume of 886,700 shares, the short-interest ratio is currently 3.9 days.

Analyst Ratings Changes

A number of analysts recently commented on CGAU shares. Desjardins downgraded Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday. Scotiabank cut their target price on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. CWM LLC purchased a new position in shares of Centerra Gold during the 3rd quarter worth about $57,000. SG Americas Securities LLC purchased a new stake in Centerra Gold in the 4th quarter valued at about $59,000. Massachusetts Financial Services Co. MA purchased a new stake in Centerra Gold in the 4th quarter valued at about $60,000. Susquehanna Advisors Group Inc. purchased a new stake in shares of Centerra Gold in the 4th quarter worth approximately $61,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Centerra Gold in the 4th quarter worth approximately $79,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Centerra Gold Trading Down 3.3 %

CGAU stock traded down $0.22 on Monday, hitting $6.40. The company had a trading volume of 562,400 shares, compared to its average volume of 653,000. Centerra Gold has a 12-month low of $4.88 and a 12-month high of $7.82. The stock’s 50-day simple moving average is $6.03 and its 200 day simple moving average is $6.51. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 13.32 and a beta of 0.91.

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.