Van ECK Associates Corp Sells 573,682 Shares of Centerra Gold Inc. (NYSE:CGAU)

Van ECK Associates Corp cut its stake in Centerra Gold Inc. (NYSE:CGAU - Free Report) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,792,385 shares of the company's stock after selling 573,682 shares during the period. Van ECK Associates Corp owned 8.47% of Centerra Gold worth $101,204,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its holdings in shares of Centerra Gold by 59.0% during the third quarter. Bank of Montreal Can now owns 3,869,035 shares of the company's stock valued at $28,690,000 after purchasing an additional 1,435,794 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Centerra Gold by 36.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company's stock valued at $31,514,000 after buying an additional 1,175,000 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Centerra Gold during the third quarter valued at about $4,454,000. Geode Capital Management LLC boosted its stake in Centerra Gold by 378.7% during the third quarter. Geode Capital Management LLC now owns 454,939 shares of the company's stock valued at $4,152,000 after buying an additional 359,905 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Centerra Gold by 131.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 588,681 shares of the company's stock valued at $3,346,000 after buying an additional 334,719 shares in the last quarter. 55.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CGAU has been the subject of several research reports. Desjardins cut Centerra Gold from a "moderate buy" rating to a "hold" rating in a research note on Thursday. Scotiabank decreased their price target 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Centerra Gold has a consensus rating of "Hold" and an average target price of $11.00.

Centerra Gold Stock Performance

Shares of NYSE:CGAU traded down $0.22 during midday trading on Monday, reaching $6.40. The company had a trading volume of 562,400 shares, compared to its average volume of 653,000. Centerra Gold Inc. has a 1-year low of $4.88 and a 1-year high of $7.82. The firm 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 simple moving average of $6.03 and a two-hundred day simple moving average of $6.51.

Centerra Gold 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.