Centerra Gold Inc. (NYSE:CGAU) Short Interest Up 10.3% in September

Centerra Gold Inc. (NYSE:CGAU) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 2,040,000 shares, an increase of 10.3% from the August 31st total of 1,850,000 shares. Based on an average daily volume of 838,000 shares, the short-interest ratio is currently 2.4 days. Approximately 1.0% of the shares of the stock are sold short.

Centerra Gold Stock Up 1.3 %

CGAU traded up $0.09 during trading on Tuesday, reaching $7.26. 843,061 shares of the stock traded hands, compared to its average volume of 613,060. The stock has a market capitalization of $1.55 billion, a PE ratio of 26.87 and a beta of 0.98. The stock’s 50-day moving average is $6.91 and its 200 day moving average is $6.66. Centerra Gold has a 12 month low of $4.47 and a 12 month high of $7.82.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.07. The business had revenue of $282.31 million for the quarter. Centerra Gold had a net margin of 10.68% and a return on equity of 10.72%. During the same period last year, the company posted ($0.20) EPS. As a group, equities research analysts anticipate that Centerra Gold will post 0.82 EPS for the current year.

Centerra Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.051 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.20 annualized dividend and a dividend yield of 2.81%. Centerra Gold’s dividend payout ratio is currently 74.07%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CGAU. Cibc World Mkts cut shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. CIBC reissued a “neutral” rating and issued a $13.00 price objective (up previously from $11.00) on shares of Centerra Gold in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Centerra Gold currently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Hedge Funds Weigh In On Centerra Gold

Several institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp raised its holdings in shares of Centerra Gold by 111.3% during the second quarter. Mackenzie Financial Corp now owns 1,493,717 shares of the company’s stock valued at $10,046,000 after purchasing an additional 786,688 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Centerra Gold by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 178,489 shares of the company’s stock worth $1,199,000 after acquiring an additional 2,120 shares during the last quarter. AXA S.A. acquired a new stake in shares of Centerra Gold in the 2nd quarter worth about $2,096,000. Toronto Dominion Bank raised its holdings in shares of Centerra Gold by 184.6% in the 2nd quarter. Toronto Dominion Bank now owns 27,614 shares of the company’s stock worth $186,000 after acquiring an additional 17,912 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Centerra Gold by 94.6% in the 2nd quarter. Marshall Wace LLP now owns 1,037,839 shares of the company’s stock worth $6,974,000 after acquiring an additional 504,636 shares during the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

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.