Centerra Gold Inc. (NYSE:CGAU) Short Interest Up 13.0% in October

Centerra Gold Inc. (NYSE:CGAU) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,440,000 shares, a growth of 13.0% from the October 15th total of 2,160,000 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average trading volume of 981,300 shares, the short-interest ratio is currently 2.5 days.

Centerra Gold Trading Up 3.3 %

Centerra Gold stock traded up $0.19 during midday trading on Monday, reaching $5.97. 162,882 shares of the stock traded hands, compared to its average volume of 652,143. Centerra Gold has a fifty-two week low of $4.47 and a fifty-two week high of $7.82. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 12.04 and a beta of 0.98. The firm has a fifty day moving average price of $6.94 and a two-hundred day moving average price of $6.86.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.18 earnings per share (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 business had revenue of $323.93 million for the quarter. During the same period in the previous year, the company posted $0.20 EPS. Analysts anticipate that Centerra Gold will post 0.81 earnings per share for the current year.

Centerra Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.052 per share. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.48%. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, November 13th. Centerra Gold’s dividend payout ratio (DPR) is 43.75%.

Institutional Investors Weigh In On Centerra Gold

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Donald Smith & CO. Inc. increased its stake in Centerra Gold by 8.8% during the 1st quarter. Donald Smith & CO. Inc. now owns 10,747,290 shares of the company’s stock valued at $63,516,000 after buying an additional 867,334 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Centerra Gold by 594.6% in the second quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company’s stock valued at $59,532,000 after acquiring an additional 7,586,370 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Centerra Gold by 36.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock valued at $31,514,000 after acquiring an additional 1,175,000 shares during the period. Bank of Montreal Can raised its holdings in Centerra Gold by 59.0% during the third quarter. Bank of Montreal Can now owns 3,869,035 shares of the company’s stock worth $28,690,000 after purchasing an additional 1,435,794 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Centerra Gold by 132.8% in the second quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock worth $12,345,000 after purchasing an additional 1,047,142 shares during the period. 55.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.