Centerra Gold Inc. (NYSE:CGAU) Announces Quarterly Dividend of $0.07

Centerra Gold Inc. (NYSE:CGAU) announced a quarterly dividend on Thursday, February 20th, RTT News reports. Shareholders of record on Thursday, March 13th will be paid a dividend of 0.07 per share on Thursday, March 27th. This represents a $0.28 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05.

Centerra Gold has increased its dividend by an average of 13.8% per year over the last three years. Centerra Gold has a dividend payout ratio of 25.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Centerra Gold to earn $0.59 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 33.9%.

Centerra Gold Stock Performance

CGAU opened at $6.17 on Friday. Centerra Gold has a one year low of $4.88 and a one year high of $7.82. The company has a market cap of $1.30 billion, a P/E ratio of 12.86 and a beta of 0.91. The business’s 50-day simple moving average is $6.07 and its 200-day simple moving average is $6.51.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. The company had revenue of $302.40 million during the quarter, compared to analysts’ expectations of $316.92 million. As a group, analysts predict that Centerra Gold will post 0.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CGAU has been the topic of several research analyst reports. Desjardins lowered shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 13th. Scotiabank cut their target price on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Centerra Gold currently has an average rating of “Hold” and an average target price of $11.00.

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.