Centerra Gold (NYSE:CGAU) Downgraded to “Hold” Rating by Desjardins

Desjardins lowered shares of Centerra Gold (NYSE:CGAU) from a moderate buy rating to a hold rating in a report issued on Thursday morning,Zacks.com reports.

Separately, Scotiabank decreased 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 report on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $11.00.

Centerra Gold Stock Performance

NYSE CGAU opened at $6.40 on Thursday. Centerra Gold has a 1 year low of $4.88 and a 1 year high of $7.82. The stock has a market capitalization of $1.34 billion, a P/E ratio of 13.32 and a beta of 0.91. The business’s fifty day moving average is $6.02 and its two-hundred day moving average is $6.51.

Institutional Trading of Centerra Gold

Hedge funds and other institutional investors have recently modified their holdings of the stock. Donald Smith & CO. Inc. boosted its position in shares of Centerra Gold by 30.1% during the fourth quarter. Donald Smith & CO. Inc. now owns 8,723,060 shares of the company’s stock worth $49,634,000 after purchasing an additional 2,017,756 shares in the last quarter. Amundi lifted its holdings in shares of Centerra Gold by 168.6% during the 4th quarter. Amundi now owns 2,628,623 shares of the company’s stock worth $15,377,000 after acquiring an additional 1,650,160 shares during the period. Bank of Montreal Can increased its position in Centerra Gold by 59.0% during 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 position 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 acquiring an additional 1,175,000 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Centerra Gold by 24.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,808,773 shares of the company’s stock worth $33,028,000 after acquiring an additional 1,126,825 shares in the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

About Centerra Gold

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.