Centerra Gold Inc. (NYSE:CGAU – Get Rating) saw a significant drop in short interest in November. As of November 30th, there was short interest totalling 6,050,000 shares, a drop of 17.3% from the November 15th total of 7,320,000 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average daily trading volume, of 173,000 shares, the days-to-cover ratio is currently 35.0 days.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on CGAU shares. Raymond James dropped their target price on Centerra Gold from C$10.50 to C$10.00 in a report on Wednesday, November 9th. National Bank Financial decreased their price target on Centerra Gold from C$11.00 to C$10.50 in a research report on Tuesday, November 8th. Finally, TD Securities raised their price target on Centerra Gold from C$7.00 to C$7.50 in a research report on Tuesday, November 8th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.25.
Centerra Gold Stock Performance
Shares of NYSE CGAU traded down $0.01 during mid-day trading on Friday, reaching $4.90. The company had a trading volume of 156,411 shares, compared to its average volume of 127,978. Centerra Gold has a one year low of $3.77 and a one year high of $10.57. The business’s 50-day simple moving average is $4.93 and its 200 day simple moving average is $5.44. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 4.58 and a beta of 0.64.
Centerra Gold Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, December 2nd. Shareholders of record on Friday, November 18th were given a $0.051 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Thursday, November 17th. Centerra Gold’s dividend payout ratio is presently 19.63%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Scotia Capital Inc. bought a new position in Centerra Gold in the second quarter valued at about $2,175,000. Mackenzie Financial Corp grew its position in Centerra Gold by 3.0% in the second quarter. Mackenzie Financial Corp now owns 699,598 shares of the company’s stock valued at $4,745,000 after acquiring an additional 20,502 shares during the last quarter. Swiss National Bank grew its position in Centerra Gold by 7.9% in the first quarter. Swiss National Bank now owns 529,900 shares of the company’s stock valued at $5,204,000 after acquiring an additional 39,000 shares during the last quarter. Deutsche Bank AG grew its position in Centerra Gold by 83.0% in the second quarter. Deutsche Bank AG now owns 766,393 shares of the company’s stock valued at $5,173,000 after acquiring an additional 347,544 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Centerra Gold in the second quarter valued at about $209,000. Institutional investors own 37.84% of the company’s stock.
About Centerra Gold
Centerra Gold, Inc engages in the operation, development, exploration and acquisition of gold and copper properties. It operates through the following segments: Kumtor, Mount Milligan, and Öksüt. The company was founded on November 7, 2002 and is headquartered in Toronto, Canada.
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Read More:Centerra Gold Inc. (NYSE:CGAU) Short Interest Down 17.3% in November
2022-12-18 00:48:20
