CENTERRA GOLD INC CGAU
COM · Common Stock · CUSIP 152006102 · ISIN CA1520061021
- SectorMaterials
- IndustryGold and Silver Ores
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($4.9k this quarter). Holder counts are more reliable. Shares outstanding: 199.8m as of 2025-12-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $14.42. Options: 10 managers hold calls ($12.2m notional), 7 hold puts ($2.4m).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 94 |
| Q4 2022 | 104 |
| Q1 2023 | 113 |
| Q2 2023 | 108 |
| Q3 2023 | 110 |
| Q4 2023 | 112 |
| Q1 2024 | 118 |
| Q2 2024 | 133 |
| Q3 2024 | 140 |
| Q4 2024 | 148 |
| Q1 2025 | 142 |
| Q2 2025 | 155 |
| Q3 2025 | 166 |
| Q4 2025 | 186 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2024 | 69 | 41 |
| Q2 2024 | 74 | 46 |
| Q3 2024 | 78 | 56 |
| Q4 2024 | 68 | 63 |
| Q1 2025 | 73 | 68 |
| Q2 2025 | 87 | 53 |
| Q3 2025 | 93 | 70 |
| Q4 2025 | 92 | 84 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $2.6m | $1.4m | 0.53 |
| Q2 2025 | $2.8m | $4.3m | 1.55 |
| Q3 2025 | $13.9m | $3.6m | 0.26 |
| Q4 2025 | $12.2m | $2.4m | 0.20 |
Biggest buyers
| DONALD SMITH & CO., INC. | Added | +2.5m |
| FIL Ltd | New | +2.5m |
| Merewether Investment Management, LP | New | +2.3m |
| Hillsdale Investment Management Inc. | Added | +1.4m |
| MACKENZIE FINANCIAL CORP | Added | +1.1m |
| INTACT INVESTMENT MANAGEMENT INC. | Added | +946.9k |
| VAN ECK ASSOCIATES CORP | Added | +867.0k |
| U S GLOBAL INVESTORS INC | New | +721.9k |
| NATIONAL BANK OF CANADA /FI/ | Added | +565.0k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +549.5k |
Biggest sellers
| Waratah Capital Advisors Ltd. | Reduced | -3.3m |
| ROYAL BANK OF CANADA | Reduced | -3.2m |
| Ruffer LLP | Reduced | -2.6m |
| JPMORGAN CHASE & CO | Reduced | -2.0m |
| GOLDMAN SACHS GROUP INC | Reduced | -1.8m |
| Pale Fire Capital SE | Reduced | -1.7m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -1.7m |
| Man Group plc | Reduced | -1.5m |
| EDMOND DE ROTHSCHILD HOLDING S.A. | Reduced | -1.0m |
| AMERICAN CENTURY COMPANIES INC | Reduced | -860.0k |
Biggest calls
| PEAK6 LLC | New | $5.9m411.4k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $2.9m200.3k shares |
| SIG North Trading, ULC | Reduced | $747.2k52.0k shares |
| SIMPLEX TRADING, LLC | Added | $603.5k42.0k shares |
| NATIONAL BANK OF CANADA /FI/ | Reduced | $601.7k418 shares |
| IMC-Chicago, LLC | Reduced | $536.0k37.3k shares |
| GROUP ONE TRADING LLC | Added | $464.2k32.3k shares |
| CITADEL ADVISORS LLC | Reduced | $319.0k22.2k shares |
| BANK OF MONTREAL /CAN/ | Reduced | $92.1k6.4k shares |
| TORONTO DOMINION BANK | Reduced | $43.2k3.0k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $1.2m83.7k shares |
| CITADEL ADVISORS LLC | Reduced | $620.8k43.2k shares |
| NATIONAL BANK OF CANADA /FI/ | Reduced | $372.8k259 shares |
| JANE STREET GROUP, LLC | New | $143.7k10.0k shares |
| GROUP ONE TRADING LLC | Reduced | $73.3k5.1k shares |
| TORONTO DOMINION BANK | Reduced | $14.4k1.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $14.4k1.0k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| DONALD SMITH & CO., INC. 13G · institution -0.1 pts · filed 2026-08-11 | 7.8% |
| VAN ECK ASSOCIATES CORP 13G · institution -1.9 pts · filed 2025-08-14 | 6.6% |
| DIMENSIONAL FUND ADVISORS LP 13G · institution new · filed 2025-07-15 | 5.8% |
Insider purchases and sales in Q4 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
None reported in Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| DONALD SMITH & CO., INC. 3.81% of their portfolio | 14.2m $203.5m | Added +2.5m |
| VANGUARD GROUP INC 0.00% of their portfolio | 8.4m $120.2m | Added +13.8k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.07% of their portfolio | 8.3m $119.1m | Added +549.5k |
| ACADIAN ASSET MANAGEMENT LLC 0.19% of their portfolio | 8.1m $117.1m | Reduced -103.1k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 8.1m $115.9m | Reduced -1.8m |
| VAN ECK ASSOCIATES CORP 0.08% of their portfolio | 6.5m $93.9m | Added +867.0k |
| AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio | 4.5m $65.1m | Reduced -860.0k |
| MORGAN STANLEY 0.00% of their portfolio | 4.0m $57.8m | Reduced -40.4k |
| Waratah Capital Advisors Ltd. 4.05% of their portfolio | 3.7m $53.2m | Reduced -3.3m |
| Hillsdale Investment Management Inc. 1.40% of their portfolio | 3.5m $50.7m | Added +1.4m |
| Ruffer LLP 2.14% of their portfolio | 3.3m $47.0m | Reduced -2.6m |
| Invesco Ltd. 0.00% of their portfolio | 3.0m $42.8m | Reduced -7.5k |
| BANK OF MONTREAL /CAN/ 0.02% of their portfolio | 2.9m $41.1m | Added +18.0k |
| Nuveen, LLC 0.01% of their portfolio | 2.7m $39.0m | Reduced -161.5k |
| FIL Ltd 0.03% of their portfolio | 2.5m $36.0m | New |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 2.5m $35.7m | Added +66.9k |
| Merewether Investment Management, LP 0.75% of their portfolio | 2.3m $32.4m | New |
| HEARTLAND ADVISORS INC 1.70% of their portfolio | 2.2m $31.6m | Reduced -198.2k |
| Connor, Clark & Lunn Investment Management Ltd. 0.08% of their portfolio | 2.1m $30.2m | Added +512.5k |
| UBS Group AG 0.01% of their portfolio | 2.0m $28.3m | Reduced -541.7k |
| Amundi 0.01% of their portfolio | 1.8m $25.2m | Added +186.6k |
| Verbena Value LP 3.99% of their portfolio | 1.6m $23.2m | First filing |
| INTACT INVESTMENT MANAGEMENT INC. 0.63% of their portfolio | 1.5m $21.8m | Added +946.9k |
| MACKENZIE FINANCIAL CORP 0.02% of their portfolio | 1.3m $18.3m | Added +1.1m |
| HATCH COVE CAPITAL, LLC 7.03% of their portfolio | 1.3m $18.0m | First filing |
| CAUSEWAY CAPITAL MANAGEMENT LLC 0.25% of their portfolio | 1.2m $18.0m | Added +386.4k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 1.1m $15.3m | Reduced -3.2m |
| Legal & General Group Plc 0.00% of their portfolio | 1.0m $15.0m | Reduced -43.3k |
| NATIONAL BANK OF CANADA /FI/ 0.02% of their portfolio | 1.0m $14.9m | Added +565.0k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio | 900.0k $12.9m | Unchanged |
| TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio | 853.7k $12.3m | Added +250.5k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 805.2k $11.6m | Reduced -58.3k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 796.7k $11.5m | Added +43.9k |
| Man Group plc 0.02% of their portfolio | 790.6k $11.4m | Reduced -1.5m |
| TD Asset Management Inc 0.01% of their portfolio | 770.8k $11.1m | Reduced -718.4k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.03% of their portfolio | 762.6k $11.0m | Reduced -5.5k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 756.4k $10.9m | Reduced -2.0m |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 747.2k $10.8m | Reduced -358.0k |
| U S GLOBAL INVESTORS INC 1.11% of their portfolio | 721.9k $10.4m | New |
| TORONTO DOMINION BANK 0.02% of their portfolio | 714.4k $10.3m | Added +132.1k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 706.9k $10.2m | Added +74.3k |
| TWO SIGMA ADVISERS, LP 0.02% of their portfolio | 692.4k $10.0m | Reduced -161.1k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 692.3k $10.0m | Reduced -55.5k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 643.1k $9.2m | Reduced -1.7m |
| Extract Advisors LLC 4.76% of their portfolio | 605.6k $8.7m | First filing |
| EDMOND DE ROTHSCHILD HOLDING S.A. 0.12% of their portfolio | 600.0k $8.7m | Reduced -1.0m |
| Pale Fire Capital SE 1.10% of their portfolio | 591.2k $8.5m | Reduced -1.7m |
| Quadrature Capital Ltd 0.08% of their portfolio | 576.1k $8.3m | Reduced -340.7k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.01% of their portfolio | 571.4k $8.2m | Unchanged |
| Groupe la Francaise 0.12% of their portfolio | 570.0k $8.2m | Added +39.7k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 568.3k $8.2m | Added +226.9k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 548.7k $7.9m | Reduced -238.3k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 540.5k $7.8m | Added +349.9k |
| MARSHALL WACE, LLP 0.01% of their portfolio | 517.8k $7.4m | New |
| Verition Fund Management LLC 0.04% of their portfolio | 508.9k $7.3m | Added +418.6k |
| Knoll Capital Management, LLC 3.28% of their portfolio | 497.4k $7.1m | Unchanged |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.04% of their portfolio | 495.2k $7.1m | Reduced -54.2k |
| Polunin Capital Partners Ltd 1.26% of their portfolio | 491.6k $8.2m | Reduced -24.1k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 469.8k $6.8m | Added +232.4k |
| JUPITER ASSET MANAGEMENT LTD 0.05% of their portfolio | 428.0k $6.2m | Added +16.4k |
| Swiss National Bank 0.00% of their portfolio | 403.4k $5.8m | Unchanged |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.01% of their portfolio | 347.8k $6.9m | New |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.01% of their portfolio | 346.1k $5.0m | Added +240.8k |
| BARCLAYS PLC 0.00% of their portfolio | 307.5k $4.4m | Reduced -87.0k |
| VIRTUS ADVISERS, LLC 2.42% of their portfolio | 287.8k $5.1m | Unchanged |
| STIFEL FINANCIAL CORP 0.00% of their portfolio | 255.0k $3.7m | Reduced -17.4k |
| Trexquant Investment LP 0.03% of their portfolio | 254.5k $3.7m | Added +202.5k |
| Point72 Asset Management, L.P. 0.01% of their portfolio | 246.6k $3.5m | Reduced -2.4k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 219.9k $3.2m | New |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 215.6k $3.1m | Reduced -82.6k |
| Polar Asset Management Partners Inc. 0.06% of their portfolio | 200.0k $2.9m | Added +10.0k |
| CM Management, LLC 2.42% of their portfolio | 200.0k $2.9m | Unchanged |
| Allianz Asset Management GmbH 0.00% of their portfolio | 199.6k $2.9m | Added +23.6k |
| Pavaki Capital Management LLC 1.98% of their portfolio | 197.0k $2.8m | First filing |
| BESSEMER GROUP INC 0.00% of their portfolio | 191.4k $2.8m | Added +1.1k |
| Accordant Advisory Group Inc 1.88% of their portfolio | 189.8k $2.7m | Reduced -206 |
| CIBC Asset Management Inc 0.01% of their portfolio | 188.8k $2.7m | Reduced -12.6k |
| CoreCommodity Management, LLC 0.54% of their portfolio | 179.5k $2.6m | Reduced -36.4k |
| NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio | 166.7k $2.4m | Reduced -4.5k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 162.7k $2.3m | Added +6.2k |
| LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio | 150.6k $2.2m | Reduced -261.0k |
| RITHOLTZ WEALTH MANAGEMENT 0.04% of their portfolio | 147.1k $2.1m | Reduced -51.4k |
| PCJ Investment Counsel Ltd. 0.52% of their portfolio | 146.0k $2.1m | Reduced -3.5k |
| GUGGENHEIM CAPITAL LLC 0.02% of their portfolio | 144.6k $2.1m | Reduced -9.5k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 142.8k $2.1m | Added +16.6k |
| SIG North Trading, ULC 0.35% of their portfolio | 139.0k $2.0m | Reduced -124.6k |
| Campbell & CO Investment Adviser LLC 0.09% of their portfolio | 134.6k $1.9m | Added +12.5k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 134.2k $1.9m | Reduced -96.7k |
| Quantbot Technologies LP 0.06% of their portfolio | 124.9k $1.8m | Reduced -220.9k |
| STANSBERRY ASSET MANAGEMENT, LLC 0.16% of their portfolio | 110.8k $1.6m | Added +21.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 108.1k $1.6m | New |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.01% of their portfolio | 107.1k $1.5m | Reduced -11.4k |
| Hartree Partners, LP 0.55% of their portfolio | 105.0k $1.5m | Added +35.0k |
| Northwest & Ethical Investments L.P. 0.03% of their portfolio | 99.0k $1.4m | Added +11.4k |
| Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. 2.91% of their portfolio | 94.1k $1.4m | Added +47.0k |
| CIBC WORLD MARKET INC. 0.00% of their portfolio | 93.8k $1.4m | Reduced -311.0k |
| Engineers Gate Manager LP 0.02% of their portfolio | 88.5k $1.3m | Added +11.7k |
| Aquatic Capital Management LLC 0.03% of their portfolio | 83.9k $1.2m | Added +29.3k |
| Y-Intercept (Hong Kong) Ltd 0.03% of their portfolio | 78.1k $1.1m | Reduced -199.7k |
| XTX Topco Ltd 0.03% of their portfolio | 77.3k $1.1m | Added +57.6k |