Centerra Gold Inc. (NYSE:CGAU) Short Interest Up 5.9% in January

Centerra Gold Inc. (NYSE:CGAU) saw a significant increase in short interest in January. As of January 15th, there was short interest totalling 2,530,000 shares, an increase of 5.9% from the December 31st total of 2,390,000 shares. Based on an average daily trading volume, of 922,400 shares, the short-interest ratio is currently 2.7 days. Approximately 1.2% of the company’s stock are sold short.

Centerra Gold Stock Performance

CGAU opened at $6.25 on Monday. Centerra Gold has a one year low of $4.47 and a one year high of $7.82. The stock has a market capitalization of $1.31 billion, a P/E ratio of 13.02 and a beta of 0.90. The business’s 50-day simple moving average is $5.89 and its 200-day simple moving average is $6.51.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.18 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 firm had revenue of $323.93 million for the quarter. During the same quarter last year, the business posted $0.20 earnings per share. On average, equities research analysts forecast that Centerra Gold will post 0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Centerra Gold

Institutional investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. raised its stake in Centerra Gold by 36.5% during the 3rd 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 last quarter. Jane Street Group LLC raised its stake in shares of Centerra Gold by 145.6% during the third quarter. Jane Street Group LLC now owns 419,992 shares of the company’s stock worth $3,015,000 after purchasing an additional 249,004 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Centerra Gold by 378.7% during the third quarter. Geode Capital Management LLC now owns 454,939 shares of the company’s stock worth $4,152,000 after purchasing an additional 359,905 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Centerra Gold during the third quarter worth $4,454,000. Finally, HighTower Advisors LLC purchased a new position in Centerra Gold in the 3rd quarter valued at $127,000. 55.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CGAU shares. Desjardins upgraded Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st. Scotiabank lowered their price target on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.