Short Interest in Centerra Gold Inc. (NYSE:CGAU) Declines By 10.7%

Centerra Gold Inc. (NYSE:CGAU) experienced a notable reduction in short interest during the month of November. As of November 30th, the short interest totaled 2,580,000 shares, marking a 10.7% decline from the previous total of 2,890,000 shares noted on November 15th. Currently, about 1.2% of Centerra Gold's total shares are being sold short. With an average daily trading volume of 977,300 shares, the days-to-cover ratio stands at approximately 2.6 days.

Wall Street Analysts Forecast Growth

In other developments, Desjardins upgraded Centerra Gold's rating to 'moderate buy' in a research note published on October 31st. Among analysts, two have issued a hold rating, while three have provided buy ratings for the stock. According to MarketBeat.com, the consensus rating for Centerra Gold is currently classified as 'Moderate Buy', with an average target price set at $11.00.

Centerra Gold Price Performance

On a recent trading day, Centerra Gold shares saw a decrease of $0.11, closing at $5.87. The trading volume for the day was reported at 1,137,829 shares, which is significantly higher than the average volume of 673,772 shares. The stock has a 50-day moving average of $6.47 and a 200-day moving average of $6.74. Centerra Gold has a market capitalization of $1.24 billion, a price-to-earnings (P/E) ratio of 12.23, and a beta value of 0.89. Over the past year, the stock reached a low of $4.47 and a high of $7.82.

Centerra Gold Recent Earnings

The latest quarterly earnings report for Centerra Gold was released on October 31st. The company reported earnings per share (EPS) of $0.18, falling short of analysts' expectations, which averaged at $0.20 per share, by $0.02. For the quarter, revenues amounted to $323.93 million. Centerra Gold recorded a net margin of 8.31% along with a return on equity of 10.34%. In the same quarter last year, the company reported an EPS of $0.20. Analysts project that Centerra Gold will achieve an EPS of $0.79 for the current fiscal year.

Centerra Gold Increases Dividend

Recently, Centerra Gold declared a quarterly dividend, which was paid out on November 27th. Shareholders who were on record as of November 13th received a dividend payment of $0.052 per share. This marked an increase from the previous quarterly dividend of $0.05, reflecting an annualized dividend of $0.21 and a dividend yield of 3.54%. The ex-dividend date for this payment was also November 13th. Centerra Gold's dividend payout ratio is currently at 41.67%.

Institutional Investors Weigh In On Centerra Gold

Recent shifts in ownership among institutional investors have been noted. For instance, CWM LLC acquired a new stake in Centerra Gold during the third quarter, valued at $57,000. Capstone Investment Advisors LLC also established a new position worth approximately $89,000 in the same quarter. Additionally, Vanguard Personalized Indexing Management LLC boosted its holdings by 12.3% during the second quarter, bringing its total to 14,384 shares valued at $96,000 after adding 1,573 shares. HighTower Advisors LLC and DekaBank Deutsche Girozentrale have also entered new positions in the third and second quarters, respectively. Currently, hedge funds and other institutional investors own 55.40% of Centerra Gold's stock.

Centerra Gold Company Profile

Centerra Gold Inc. is a prominent gold mining company that focuses on the acquisition, exploration, development, and management of gold and copper resources across North America, Turkey, and other international locations. The company is primarily involved in the exploration for gold, copper, and molybdenum. Its flagship projects comprise the Mount Milligan gold-copper mine in British Columbia, Canada, and the Öksüt gold mine situated in Turkey.

Centerra, Gold, Stocks