Centerra Gold (NYSE:CGAU) Announces Earnings Results

Centerra Gold (NYSE:CGAU) announced its quarterly earnings data on Thursday. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.07, Zacks reports. Centerra Gold had a return on equity of 10.77% and a net margin of 10.68%. The firm had revenue of $282.31 million during the quarter. During the same quarter last year, the company earned ($0.20) EPS.

Centerra Gold Stock Performance

NYSE CGAU traded up $0.13 during trading hours on Friday, hitting $6.68. The company had a trading volume of 1,092,323 shares, compared to its average volume of 590,383. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 24.74 and a beta of 0.98. The firm has a 50 day simple moving average of $6.81 and a 200 day simple moving average of $6.16. Centerra Gold has a 52 week low of $4.47 and a 52 week high of $7.51.

Centerra Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be paid a $0.051 dividend. The ex-dividend date is Thursday, August 15th. This represents a $0.20 annualized dividend and a yield of 3.05%. Centerra Gold’s dividend payout ratio is currently 74.07%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CGAU. National Bank Financial reiterated an “outperform overweight” rating on shares of Centerra Gold in a research note on Monday, April 8th. Scotiabank increased their price target on Centerra Gold from $8.00 to $9.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 23rd. CIBC reiterated a “neutral” rating and set a $13.00 price target (up previously from $11.00) on shares of Centerra Gold in a research note on Wednesday, July 10th. Finally, Cibc World Mkts downgraded Centerra Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Centerra Gold currently has an average rating of “Moderate Buy” and an average price target of $9.80.

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.