Centerra Gold Inc. (NYSE:CGAU) Sees Significant Increase in Short Interest

Centerra Gold Inc. (NYSE:CGAU) was the recipient of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 2,530,000 shares, a growth 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 shares of the company are sold short.

Centerra Gold Stock Performance

Shares of NYSE:CGAU opened at $6.37 on Tuesday. Centerra Gold has a 52 week low of $4.47 and a 52 week high of $7.82. The company’s fifty day moving average is $5.90 and its 200-day moving average is $6.51. The company has a market capitalization of $1.34 billion, a PE ratio of 13.26 and a beta of 0.91.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CGAU. Connor Clark & Lunn Investment Management Ltd. raised its holdings 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 worth $31,514,000 after purchasing an additional 1,175,000 shares during the last quarter. Jane Street Group LLC raised its holdings in Centerra Gold by 145.6% during the 3rd 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 holdings in Centerra Gold by 378.7% during the 3rd 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 bought a new stake in Centerra Gold during the 3rd quarter worth about $4,454,000. Finally, HighTower Advisors LLC bought a new stake in Centerra Gold during the 3rd quarter worth about $127,000. 55.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CGAU. Scotiabank reduced their price objective on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a research note on Wednesday, January 15th. Desjardins upgraded Centerra Gold to a “moderate buy” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Centerra Gold has an average rating of “Moderate Buy” and an average price target 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.