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

Centerra Gold Inc. (NYSE:CGAU) announced a quarterly dividend on Tuesday, May 6th, RTT News reports. Shareholders of record on Thursday, May 22nd will be given a dividend of 0.07 per share on Thursday, June 5th. This represents a $0.28 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Thursday, May 22nd.

Centerra Gold has raised its dividend payment by an average of 13.8% per year over the last three years. Centerra Gold has a dividend payout ratio of 19.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Centerra Gold to earn $0.70 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 28.6%.

Centerra Gold Stock Down 2.7 %

NYSE CGAU opened at $7.29 on Thursday. The company has a market cap of $1.53 billion, a PE ratio of 20.25 and a beta of 0.80. Centerra Gold has a 52 week low of $5.41 and a 52 week high of $7.82. The firm’s 50-day simple moving average is $6.29 and its two-hundred day simple moving average is $6.22.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. The firm had revenue of $299.50 million for the quarter, compared to the consensus estimate of $288.25 million. Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. As a group, equities research analysts anticipate that Centerra Gold will post 0.59 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CGAU shares. Raymond James reaffirmed an “outperform” rating on shares of Centerra Gold in a report on Friday, April 4th. National Bank Financial raised Centerra Gold to a “strong-buy” rating in a research note on Friday, March 21st. Scotiabank reissued an “outperform” rating on shares of Centerra Gold in a research note on Monday, April 14th. Desjardins cut Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, CIBC reissued a “neutral” rating on shares of Centerra Gold in a research note on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

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.