Centerra Gold (NYSE:CGAU) Cut to “Hold” at Desjardins

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

Separately, Scotiabank decreased their target price on 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $11.00.

Centerra Gold Trading Down 3.3 %

Shares of CGAU stock opened at $6.40 on Thursday. Centerra Gold has a twelve month low of $4.88 and a twelve month high of $7.82. The firm has a 50-day moving average price of $6.02 and a 200 day moving average price of $6.51. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 13.32 and a beta of 0.91.

Hedge Funds Weigh In On Centerra Gold

Institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC raised its position in shares of Centerra Gold by 6.5% during the 4th quarter. Hsbc Holdings PLC now owns 52,769 shares of the company’s stock valued at $299,000 after acquiring an additional 3,201 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Centerra Gold by 2.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 181,755 shares of the company’s stock worth $1,036,000 after buying an additional 3,608 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Centerra Gold by 8.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,308 shares of the company’s stock worth $419,000 after buying an additional 4,373 shares during the period. Atria Wealth Solutions Inc. increased its position in Centerra Gold by 11.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 50,000 shares of the company’s stock worth $284,000 after buying an additional 5,000 shares during the period. Finally, Toronto Dominion Bank increased its position in Centerra Gold by 22.8% in the third quarter. Toronto Dominion Bank now owns 33,921 shares of the company’s stock worth $243,000 after buying an additional 6,307 shares during the period. 55.40% of the stock is owned by institutional investors and hedge funds.

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.