Short Interest in Centerra Gold Inc. (NYSE:CGAU) Rises By 21.4%

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) was the recipient of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 3,400,000 shares, an increase of 21.4% from the March 31st total of 2,800,000 shares. Based on an average daily volume of 935,500 shares, the days-to-cover ratio is presently 3.6 days. Currently, 1.6% of the company's shares are sold short.

Analyst Ratings Changes

CGAU has been the subject of several research reports. Desjardins cut shares of Centerra Gold from a "moderate buy" rating to a "hold" rating in a research note on Thursday, February 13th. Scotiabank reissued an "outperform" rating on shares of Centerra Gold in a research report on Monday, April 14th. National Bank Financial raised shares of Centerra Gold to a "strong-buy" rating in a research report on Friday, March 21st. CIBC reissued a "neutral" rating on shares of Centerra Gold in a research note on Thursday, March 20th. Finally, Cormark cut shares of Centerra Gold from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $12.00.

Centerra Gold Price Performance

Centerra Gold stock traded down $0.20 during midday trading on Wednesday, hitting $7.29. 909,049 shares of the stock were exchanged, compared to its average volume of 863,228. Centerra Gold has a 1 year low of $5.41 and a 1 year high of $7.82. The firm has a market cap of $1.53 billion, a P/E ratio of 20.25 and a beta of 0.80. The company has a 50 day moving average price of $6.29 and a two-hundred day moving average price of $6.22.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.12 EPS for the quarter, meeting analysts' consensus estimates of $0.12. The firm had revenue of $299.50 million during the quarter, compared to the consensus estimate of $288.25 million. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. As a group, analysts predict that Centerra Gold will post 0.59 EPS for the current year.

Centerra Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, May 22nd. This represents a $0.28 annualized dividend and a dividend yield of 3.84%. Centerra Gold's payout ratio is 52.78%.

Institutional Investors Weigh In On Centerra Gold

Institutional investors have recently made changes to their positions in the company. Donald Smith & CO. Inc. grew its position in Centerra Gold by 30.1% in the 4th quarter. Donald Smith & CO. Inc. now owns 8,723,060 shares of the company's stock worth $49,634,000 after purchasing an additional 2,017,756 shares during the last quarter. Amundi grew its holdings in Centerra Gold by 168.6% during the fourth quarter. Amundi now owns 2,628,623 shares of the company's stock valued at $15,377,000 after purchasing an additional 1,650,160 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Centerra Gold by 24.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,808,773 shares of the company's stock worth $33,028,000 after acquiring an additional 1,126,825 shares during the period. Man Group plc increased its stake in shares of Centerra Gold by 43.2% in the fourth quarter. Man Group plc now owns 3,038,739 shares of the company's stock worth $17,283,000 after purchasing an additional 916,255 shares during the period. Finally, American Century Companies Inc. increased its position in Centerra Gold by 34.1% in the 4th quarter. American Century Companies Inc. now owns 3,291,860 shares of the company's stock worth $18,733,000 after buying an additional 836,777 shares during the period. 55.40% of the stock is currently owned by institutional investors.

Centerra Gold Company Profile

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.