Centerra Gold Inc. (NYSE:CGAU) Short Interest Down 26.6% in March

Centerra Gold Inc. (NYSE:CGAU) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 2,650,000 shares, a decline of 26.6% from the February 28th total of 3,610,000 shares. Currently, 1.3% of the company’s shares are short sold. Based on an average daily volume of 952,800 shares, the days-to-cover ratio is presently 2.8 days.

Centerra Gold Stock Up 0.2 %

Centerra Gold stock traded up $0.02 during midday trading on Monday, hitting $6.36. 692,015 shares of the stock were exchanged, compared to its average volume of 822,673. Centerra Gold has a 52 week low of $5.46 and a 52 week high of $7.82. The stock has a market capitalization of $1.33 billion, a PE ratio of 17.65 and a beta of 0.92. The company has a fifty day simple moving average of $6.18 and a two-hundred day simple moving average of $6.33.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.03). The business had revenue of $302.40 million during the quarter, compared to analyst estimates of $316.92 million. Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. As a group, equities research analysts anticipate that Centerra Gold will post 0.59 EPS for the current fiscal year.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $0.07 dividend. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.28 annualized dividend and a yield of 4.41%. The ex-dividend date was Thursday, March 13th. Centerra Gold’s payout ratio is currently 52.78%.

Analyst Upgrades and Downgrades

CGAU has been the topic of several recent research reports. Desjardins lowered shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 13th. Scotiabank reduced their price objective on shares of Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, January 15th. Cormark cut shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, February 26th. National Bank Financial upgraded Centerra Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, CIBC reaffirmed a “neutral” rating on shares of Centerra Gold in a research note on Thursday, March 20th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Centerra Gold currently has an average rating of “Moderate Buy” and an average price target of $11.00.

Hedge Funds Weigh In On Centerra Gold

A number of large investors have recently added to or reduced their stakes in the company. Vise Technologies Inc. bought a new stake in shares of Centerra Gold in the fourth quarter valued at about $58,000. SG Americas Securities LLC bought a new stake in Centerra Gold in the 4th quarter valued at approximately $59,000. Massachusetts Financial Services Co. MA acquired a new position in Centerra Gold during the 4th quarter worth approximately $60,000. Susquehanna Advisors Group Inc. acquired a new position in Centerra Gold during the 4th quarter worth approximately $61,000. Finally, Capstone Investment Advisors LLC bought a new position in shares of Centerra Gold during the 3rd quarter worth approximately $89,000. Institutional investors 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.