Centerra Gold Inc. (NYSE:CGAU) Shares Set to Pay Quarterly Dividend of C$0.07

Key Points

• Centerra Gold declared a quarterly dividend of C$0.07 per share, payable December 2 to shareholders of record on November 19. The dividend represents an annualized C$0.28 per share and a 1.4% yield.
• The company reported quarterly EPS of $0.37, exceeding analysts’ estimate of $0.33, while revenue of $500.3 million also surpassed expectations of $440.83 million. Its payout ratio was 19%, indicating the dividend is well covered by earnings.
• Centerra Gold shares recently traded at $19.85, with the stock down during the session but still above its 200-day moving average. Hedge funds and other institutional investors own approximately 55.4% of the company.

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) declared a quarterly dividend on Thursday, October 29th. Stockholders of record on Thursday, November 19th will be given a dividend of C$0.07 per share on Wednesday, December 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, November 19th.

Centerra Gold has a payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Centerra Gold to earn $1.97 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 10.2%.

Centerra Gold Stock Performance

Shares of CGAU traded down $0.58 during trading hours on Friday, reaching $19.85. 832,976 shares of the company traded hands, compared to its average volume of 1,698,484. The stock's fifty day moving average is $22.26 and its 200 day moving average is $18.93. The stock has a market cap of $3.88 billion, a P/E ratio of 6.34, a price-to-earnings-growth ratio of 1.98 and a beta of 0.84. Centerra Gold has a 1-year low of $11.13 and a 1-year high of $24.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.49 and a current ratio of 2.42.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its earnings results on Thursday, October 29th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.04. Centerra Gold had a return on equity of 15.35% and a net margin of 36.92%. The business had revenue of $500.30 million during the quarter, compared to analysts' expectations of $440.83 million. Equities research analysts anticipate that Centerra Gold will post 1.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Centerra Gold

A number of institutional investors and hedge funds have recently bought and sold shares of CGAU. Integrated Wealth Concepts LLC purchased a new position in shares of Centerra Gold during the 2nd quarter valued at $28,000. Pinnacle Holdings LLC purchased a new stake in Centerra Gold during the 2nd quarter valued at about $45,000. C M Bidwell & Associates Ltd. bought a new position in Centerra Gold during the 2nd quarter valued at approximately $83,000. Farther Finance Advisors LLC boosted its holdings in Centerra Gold by 18.1% in the third quarter. Farther Finance Advisors LLC now owns 7,177 shares of the company's stock valued at $156,000 after acquiring an additional 1,101 shares in the last quarter. Finally, State of Wyoming bought a new position in Centerra Gold in the second quarter worth about $185,000. 55.40% of the stock is owned by hedge funds and other institutional investors.

About Centerra Gold

Centerra Gold Inc is a Canadian-based mining company focused on the acquisition, exploration, development and operation of gold and copper properties. The company produces gold doré and copper-gold concentrate from its operating mines and manages related processing, infrastructure and exploration activities.

Centerra's principal assets include the Mount Milligan copper-gold mine in British Columbia, Canada, and the Öksüt gold mine in Türkiye. The company also owns the Kemess project in British Columbia, which is being advanced as a potential copper-gold development project.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.