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

Centerra Gold (NYSE:CGAU) was downgraded by equities researchers at Desjardins from a “moderate buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Separately, Scotiabank reduced their price objective 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Centerra Gold has a consensus rating of “Hold” and a consensus target price of $11.00.

Centerra Gold Stock Performance

CGAU opened at $6.40 on Thursday. The business’s 50 day moving average price is $6.02 and its 200 day moving average price is $6.51. Centerra Gold has a one year low of $4.88 and a one year high of $7.82. The stock has a market capitalization of $1.34 billion, a PE ratio of 13.32 and a beta of 0.91.

Hedge Funds Weigh In On Centerra Gold

A number of institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its position in shares of Centerra Gold by 2.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 181,755 shares of the company’s stock valued at $1,036,000 after buying an additional 3,608 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Centerra Gold in the 4th quarter valued at approximately $82,000. Susquehanna Advisors Group Inc. purchased a new stake in shares of Centerra Gold in the 4th quarter valued at approximately $61,000. Hsbc Holdings PLC increased its stake in Centerra Gold by 6.5% in the 4th quarter. Hsbc Holdings PLC now owns 52,769 shares of the company’s stock valued at $299,000 after buying an additional 3,201 shares during the period. Finally, Guggenheim Capital LLC raised its holdings in shares of Centerra Gold by 121.8% during the 4th quarter. Guggenheim Capital LLC now owns 371,645 shares of the company’s stock valued at $2,115,000 after purchasing an additional 204,057 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.