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

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) declared a quarterly dividend on Tuesday, May 6th, RTT News reports. Stockholders of record on Thursday, May 22nd will be paid a dividend of 0.07 per share on Thursday, June 5th. This represents a $0.28 annualized dividend and a dividend yield of 4.33%.

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. Research 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 Price Performance

NYSE:CGAU opened at $6.47 on Tuesday. The company has a market capitalization of $1.36 billion, a P/E ratio of 17.96 and a beta of 0.80. The business has a fifty day simple moving average of $6.22 and a two-hundred day simple moving average of $6.20. Centerra Gold has a 1 year low of $5.41 and a 1 year high of $7.82.

Centerra Gold (NYSE:CGAU - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. As a group, analysts anticipate that Centerra Gold will post 0.59 earnings per share for the current year.

Analysts Set New Price Targets

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

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