Centerra Gold Downgraded to 'Hold' by Desjardins

Centerra Gold (NYSE:CGAU) has recently been downgraded by Desjardins, moving from a "moderate buy" rating to a "hold" rating, as highlighted in a report released on Thursday.

In a separate development, Scotiabank also adjusted its price target for Centerra Gold shares, lowering it from $10.00 to $9.00 while maintaining a "sector outperform" rating. Currently, three investment analysts have given the stock a hold rating, whereas two have assigned a buy rating. According to data from MarketBeat.com, Centerra Gold holds a consensus rating of "Hold" and a consensus price target of $11.00.

Recent Stock Performance

The trading session on Thursday saw Centerra Gold shares open at $6.40. Over the past year, the stock has reached a low of $4.88 and a high of $7.82. Centerra Gold boasts a market capitalization of $1.34 billion, a price-to-earnings ratio of 13.32, and a beta of 0.91. The stock has a fifty-day moving average of $6.02 and a two-hundred day moving average of $6.51.

Institutional Investors' Activity

Recently, several hedge funds have changed their holdings in Centerra Gold. CWM LLC established a new position during the third quarter valued at approximately $57,000. Semanteon Capital Management LP increased its ownership in Centerra Gold by 152.3% during the same quarter, now owning 46,972 shares valued at around $336,000 after adding 28,358 shares. In addition, Integrated Advisors Network LLC also acquired a new stake in the company valued at about $367,000. Old West Investment Management LLC doubled its shares during the third quarter, reaching a total of 400,000 shares worth approximately $2,864,000 following an additional purchase of 200,000 shares. Lastly, Versor Investments LP raised its stake by 40.9%, now holding 146,700 shares worth $1,053,000. Altogether, institutional investors own about 55.40% of the company's shares.

About Centerra Gold

Centerra Gold Inc is engaged in the acquisition, exploration, development, and operation of gold and copper mining properties in North America, Turkey, and internationally. The company focuses on exploring for deposits of gold, copper, and molybdenum. Among its key projects are the wholly-owned Mount Milligan gold-copper mine located in British Columbia, Canada, and the Öksüt gold mine situated in Turkey.

Centerra, Gold, Desjardins