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

Desjardins downgraded shares of Centerra Gold (NYSE:CGAU - Free Report) from a moderate buy rating to a hold rating in a research report released on Thursday morning,Zacks.com reports.

Separately, Scotiabank cut their price objective on 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $11.00.

Centerra Gold Trading Up 0.1 %

Shares of CGAU traded up $0.01 during mid-day trading on Thursday, reaching $6.44. The company's stock had a trading volume of 397,040 shares, compared to its average volume of 696,417. Centerra Gold has a 1-year low of $4.88 and a 1-year high of $7.82. The stock has a market cap of $1.35 billion, a P/E ratio of 13.41 and a beta of 0.91. The business has a 50-day simple moving average of $6.05 and a two-hundred day simple moving average of $6.51.

Hedge Funds Weigh In On Centerra Gold

Large investors have recently made changes to their positions in the company. CWM LLC bought a new position in shares of Centerra Gold during the third quarter worth approximately $57,000. Vise Technologies Inc. bought a new position in Centerra Gold during the 4th quarter worth $58,000. SG Americas Securities LLC bought a new position in Centerra Gold during the 4th quarter worth $59,000. Massachusetts Financial Services Co. MA bought a new position in Centerra Gold during the 4th quarter worth $60,000. Finally, Susquehanna Advisors Group Inc. bought a new position in Centerra Gold during the 4th quarter worth $61,000. Institutional investors 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.