Centerra Gold (NYSE:CGAU) Stock Rating Lowered by Desjardins

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

Separately, Scotiabank lowered their price target on shares of Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.00.

Centerra Gold Price Performance

CGAU stock opened at $6.40 on Thursday. Centerra Gold has a one year low of $4.88 and a one year high of $7.82. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 13.32 and a beta of 0.91. The company has a fifty day moving average price of $6.02 and a two-hundred day moving average price of $6.51.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CGAU. Hsbc Holdings PLC grew its position in Centerra Gold by 6.5% in the fourth 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 during the last quarter. The Manufacturers Life Insurance Company grew its holdings 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 purchasing an additional 3,608 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Centerra Gold by 8.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,308 shares of the company’s stock worth $419,000 after purchasing an additional 4,373 shares in the last quarter. Atria Wealth Solutions Inc. lifted its stake in Centerra Gold by 11.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 50,000 shares of the company’s stock valued at $284,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Toronto Dominion Bank boosted 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 valued at $243,000 after buying an additional 6,307 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors and hedge funds.

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.