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

Key Points

• Centerra Gold Inc. announced a quarterly dividend of $0.07 per share, with a yield of 3.8%, payable on September 4th to investors of record on August 21st.
• The company reported $0.25 earnings per share for the last quarter, exceeding estimates of $0.21, demonstrating strong financial performance.
• Centerra Gold has a dividend payout ratio of 19.0%, indicating dividends are well-covered by earnings, with expectations for continued capability to meet future dividends.

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) announced a quarterly dividend on Wednesday, August 6th, RTT News reports. Shareholders of record on Thursday, August 21st will be given a dividend of 0.07 per share on Thursday, September 4th. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Thursday, August 21st.

Centerra Gold has a payout ratio of 19.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 6.5%

NYSE CGAU traded down $0.49 during trading on Friday, reaching $7.05. The company's stock had a trading volume of 2,386,559 shares, compared to its average volume of 1,044,882. The firm has a 50 day moving average price of $7.24 and a 200 day moving average price of $6.70. Centerra Gold has a 12 month low of $5.41 and a 12 month high of $7.82. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 0.46 and a beta of 0.80.

Centerra Gold (NYSE:CGAU - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.17 by $0.08. Centerra Gold had a net margin of 6.21% and a return on equity of 9.12%. The business had revenue of $288.30 million during the quarter, compared to the consensus estimate of $319.42 million. On average, equities analysts forecast that Centerra Gold will post 0.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. BMO Capital Markets downgraded shares of Centerra Gold from a "strong-buy" rating to a "hold" rating in a research report on Friday. CIBC reissued an "outperform" rating on shares of Centerra Gold in a research note on Tuesday, July 15th. Scotiabank restated an "outperform" rating on shares of Centerra Gold in a research report on Monday, April 14th. National Bankshares restated an "outperform" rating on shares of Centerra Gold in a research report on Tuesday, June 24th. Finally, Cibc World Mkts upgraded shares of Centerra Gold from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 27th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $13.00.

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.