Centerra Gold Inc. (NYSE:CGAU) Announces Quarterly Dividend of $0.05

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) declared a quarterly dividend on Tuesday, May 14th, Zacks reports. Investors of record on Wednesday, May 29th will be given a dividend of 0.051 per share on Wednesday, June 12th. This represents a $0.20 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Wednesday, May 29th.

Centerra Gold has a dividend payout ratio of 53.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Centerra Gold to earn $0.49 per share next year, which means the company should continue to be able to cover its $0.21 annual dividend with an expected future payout ratio of 42.9%.

Centerra Gold Stock Performance

Shares of NYSE CGAU traded up $0.19 during mid-day trading on Wednesday, reaching $6.72. The company had a trading volume of 651,389 shares, compared to its average volume of 412,196. Centerra Gold has a 12-month low of $4.47 and a 12-month high of $6.85. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -17.86 and a beta of 0.94. The stock has a fifty day moving average of $6.02 and a two-hundred day moving average of $5.71.

Centerra Gold (NYSE:CGAU - Get Free Report) last posted its quarterly earnings results on Tuesday, May 14th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Centerra Gold had a negative net margin of 7.43% and a positive return on equity of 0.62%. The company had revenue of $305.88 million for the quarter. During the same quarter in the prior year, the company posted ($0.24) EPS. Sell-side analysts forecast that Centerra Gold will post 0.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. BMO Capital Markets began coverage on Centerra Gold in a report on Wednesday, February 21st. They set an "outperform" rating for the company. National Bank Financial restated an "outperform overweight" rating on shares of Centerra Gold in a report on Monday, April 8th. Finally, CIBC increased their target price on shares of Centerra Gold from $9.50 to $11.00 and gave the stock an "outperformer" rating in a research report on Monday, April 15th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Centerra Gold has a consensus rating of "Buy" and an average target price of $9.78.

About Centerra Gold

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.