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

Centerra Gold Inc. (NYSE:CGAU) was the target of a significant 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 trading volume of 461,200 shares, the days-to-cover ratio is presently 2.4 days. Approximately 0.5% of the shares of the company are short sold.

Centerra Gold Stock Performance

NYSE CGAU traded down $0.07 during trading on Thursday, hitting $6.06. 58,468 shares of the company’s stock traded hands, compared to its average volume of 406,160. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -16.58 and a beta of 0.94. The business has a 50 day moving average of $5.78 and a 200-day moving average 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 released its quarterly earnings data on Thursday, February 22nd. The company reported $0.28 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 business had revenue of $340.00 million during the quarter. On average, analysts expect that Centerra Gold will post 0.55 EPS for the current year.

Centerra Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were given a $0.0518 dividend. 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 annualized dividend and a dividend yield of 3.42%. Centerra Gold’s payout ratio is -43.24%.

Analyst Upgrades and Downgrades

CGAU has been the topic of a number of research analyst reports. CIBC boosted their price target on shares of Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a report on Monday, April 15th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Centerra Gold in a research report 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 research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $9.78.

Institutional Trading of Centerra Gold

Institutional investors have recently added to or reduced their stakes in 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 in the last quarter. Pale Fire Capital SE grew its stake in Centerra Gold by 1,136.9% during the fourth quarter. Pale Fire Capital SE now owns 1,807,787 shares of the company’s stock valued at $10,774,000 after acquiring an additional 1,661,638 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Centerra Gold by 91.9% during the 3rd quarter. Mackenzie Financial Corp now owns 3,384,834 shares of the company’s stock worth $15,775,000 after acquiring an additional 1,621,158 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Centerra Gold in the 4th quarter worth approximately $9,540,000. Finally, Van ECK Associates Corp lifted 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 in the last quarter. Hedge funds and other institutional investors own 55.40% of the company’s stock.

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.