Centerra Gold Inc. (NYSE:CGAU) Sees Large Growth in Short Interest

Centerra Gold Inc. (NYSE:CGAU) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 3,420,000 shares, an increase of 17.1% from the January 15th total of 2,920,000 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average trading volume of 886,700 shares, the short-interest ratio is currently 3.9 days.

Analyst Ratings Changes

Several analysts recently issued reports on CGAU shares. Scotiabank reduced their price target on shares of Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a research report on Wednesday, January 15th. Desjardins cut shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $11.00.

Hedge Funds Weigh In On Centerra Gold

Large investors have recently bought and sold shares of the stock. Donald Smith & CO. Inc. grew its stake in shares of Centerra Gold by 30.1% in the 4th quarter. Donald Smith & CO. Inc. now owns 8,723,060 shares of the company’s stock worth $49,634,000 after acquiring an additional 2,017,756 shares in the last quarter. Amundi boosted its holdings in Centerra Gold by 168.6% during the fourth quarter. Amundi now owns 2,628,623 shares of the company’s stock worth $15,377,000 after purchasing an additional 1,650,160 shares during the last quarter. Bank of Montreal Can grew its position in Centerra Gold by 59.0% in the 3rd 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. Connor Clark & Lunn Investment Management Ltd. increased its stake in Centerra Gold by 36.5% in 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 buying an additional 1,175,000 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Centerra Gold by 24.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,808,773 shares of the company’s stock worth $33,028,000 after buying an additional 1,126,825 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors.

Centerra Gold Trading Down 3.3 %

Shares of NYSE:CGAU traded down $0.22 during mid-day trading on Monday, hitting $6.40. 562,400 shares of the company traded hands, compared to its average volume of 653,000. The stock has a 50-day moving average price of $6.02 and a two-hundred day moving average price of $6.51. Centerra Gold has a 12-month low of $4.88 and a 12-month high of $7.82. The stock has a market cap of $1.34 billion, a P/E ratio of 13.32 and a beta of 0.91.

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.