Centerra Gold Inc. (NYSE:CGAU) Sees Significant Decrease in Short Interest

Centerra Gold Inc. (NYSE:CGAU) was the recipient of a significant decline in short interest in 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. Based on an average daily volume of 977,300 shares, the short-interest ratio is currently 2.6 days. Approximately 1.2% of the company’s stock are short sold.

Institutional Investors Weigh In On Centerra Gold

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC acquired a new position in Centerra Gold during the third quarter worth about $57,000. Capstone Investment Advisors LLC bought a new position in shares of Centerra Gold during the 3rd quarter worth approximately $89,000. Vanguard Personalized Indexing Management LLC raised its position in shares of Centerra Gold by 12.3% during the second 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 period. HighTower Advisors LLC acquired a new position in shares of Centerra Gold during the third quarter worth approximately $127,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Centerra Gold in the 2nd quarter valued at $131,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Desjardins raised shares of Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Centerra Gold Price Performance

Shares of NYSE CGAU traded down $0.11 during mid-day trading on Tuesday, hitting $5.87. The company’s stock had a trading volume of 1,137,829 shares, compared to its average volume of 673,772. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 12.23 and a beta of 0.89. The company’s fifty day simple moving average is $6.47 and its 200-day simple moving average is $6.74. Centerra Gold has a one year low of $4.47 and a one year high of $7.82.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Thursday, October 31st. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. The company had revenue of $323.93 million for the quarter. During the same quarter in the prior year, the business earned $0.20 EPS. On average, sell-side analysts predict that Centerra Gold will post 0.79 EPS for the current year.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.052 per share. This represents a $0.21 dividend on an annualized basis and a yield of 3.54%. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Wednesday, November 13th. Centerra Gold’s payout ratio is 41.67%.

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.