Centerra Gold Inc. to Issue Quarterly Dividend of $0.05 (NYSE:CGAU)

Centerra Gold Inc. (NYSE:CGAU) announced a quarterly dividend on Thursday, August 1st, Zacks reports. Investors of record on Thursday, August 15th will be paid a dividend of 0.051 per share on Thursday, August 29th. This represents a $0.20 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Thursday, August 15th.

Centerra Gold has a payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Centerra Gold to earn $0.53 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 37.7%.

Centerra Gold Trading Up 2.0 %

NYSE:CGAU traded up $0.13 on Friday, hitting $6.68. The company’s stock had a trading volume of 1,092,323 shares, compared to its average volume of 590,383. Centerra Gold has a one year low of $4.47 and a one year high of $7.51. The firm has a market capitalization of $1.42 billion, a P/E ratio of 24.74 and a beta of 0.98. The stock has a fifty day moving average of $6.81 and a two-hundred day moving average of $6.16.

Centerra Gold (NYSE:CGAU) last posted its earnings results on Thursday, August 1st. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.07. Centerra Gold had a return on equity of 10.77% and a net margin of 10.68%. The business had revenue of $282.31 million for the quarter. During the same period in the previous year, the firm posted ($0.20) earnings per share. As a group, sell-side analysts anticipate that Centerra Gold will post 0.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on CGAU shares. Cibc World Mkts downgraded shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. Scotiabank upped their target price on Centerra Gold from $8.00 to $9.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 23rd. National Bank Financial reissued an “outperform overweight” rating on shares of Centerra Gold in a report on Monday, April 8th. Finally, CIBC reaffirmed a “neutral” rating and issued a $13.00 price objective (up from $11.00) on shares of Centerra Gold in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.80.

About Centerra Gold

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.