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

Key Points

• Centerra Gold declared a quarterly dividend of C$0.07 per share, payable September 2 to shareholders of record on August 19. The dividend yield is approximately 1.6%, and the 19.0% payout ratio indicates solid earnings coverage.
• Centerra Gold reported quarterly EPS of $0.39, slightly exceeding analyst expectations of $0.38, while revenue of $442.71 million surpassed estimates of $394.27 million.
• The stock rose 6.6% to $17.12 in trading, while analysts maintained a broadly positive outlook: five rate it Buy and three Hold, producing an overall “Moderate Buy” consensus with a $17.50 price target.

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) declared a quarterly dividend on Tuesday, July 28th. Stockholders of record on Wednesday, August 19th will be given a dividend of 0.07 per share on Wednesday, September 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Wednesday, August 19th.

Centerra Gold has a payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Centerra Gold to earn $1.89 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 10.6%.

Centerra Gold Trading Up 6.6%

Shares of NYSE:CGAU traded up $1.05 during trading on Wednesday, reaching $17.12. The stock had a trading volume of 1,098,104 shares, compared to its average volume of 1,852,977. The company has a quick ratio of 1.60, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. The stock has a market cap of $3.39 billion, a P/E ratio of 5.51, a PEG ratio of 0.62 and a beta of 0.81. The business has a fifty day moving average price of $16.28 and a 200-day moving average price of $17.49. Centerra Gold has a fifty-two week low of $6.71 and a fifty-two week high of $21.17.

Centerra Gold (NYSE:CGAU - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. The firm had revenue of $442.71 million for the quarter, compared to analyst estimates of $394.27 million. Centerra Gold had a net margin of 40.32% and a return on equity of 14.90%. As a group, analysts anticipate that Centerra Gold will post 1.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Scotiabank reiterated an "outperform" rating on shares of Centerra Gold in a research note on Tuesday, July 7th. Wall Street Zen cut shares of Centerra Gold from a "buy" rating to a "hold" rating in a research report on Saturday. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Centerra Gold presently has an average rating of "Moderate Buy" and an average price target of $17.50.

About Centerra Gold

Centerra Gold Inc is a gold mining company incorporated in Canada and headquartered in Toronto. The company specializes in the exploration, development and operation of precious metals properties, with a focus on gold production. Centerra's portfolio includes the Mount Milligan mine in British Columbia, Canada, and the Otjikoto mine in Namibia. Both operations produce gold and copper concentrates and employ modern mining methods and processing facilities to optimize recovery rates and minimize environmental impact.

In addition to its producing assets, Centerra is advancing the development of its Greenstone Gold Project in Ontario, Canada, which, upon completion, is expected to become one of Canada's largest gold mines.

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