Centerra Gold Inc. (CGAU) To Go Ex-Dividend on March 13th

Centerra Gold Inc. (NYSE:CGAU) announced a quarterly dividend on Thursday, February 20th, RTT News reports. Stockholders of record on Thursday, March 13th will be paid a dividend of 0.07 per share on Thursday, March 27th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05.

Centerra Gold has raised its dividend payment by an average of 13.8% annually over the last three years. Centerra Gold has a dividend payout ratio of 25.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Centerra Gold to earn $0.59 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 33.9%.

Centerra Gold Trading Down 7.2 %

CGAU opened at $6.17 on Friday. The stock’s 50-day moving average price is $6.07 and its 200 day moving average price is $6.51. Centerra Gold has a 12-month low of $4.88 and a 12-month high of $7.82. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 12.86 and a beta of 0.91.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.03). Centerra Gold had a return on equity of 10.34% and a net margin of 8.31%. The business had revenue of $302.40 million for the quarter, compared to analyst estimates of $316.92 million. On average, research analysts forecast that Centerra Gold will post 0.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Desjardins cut shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 13th. Scotiabank reduced their price objective on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Centerra Gold has a consensus rating of “Hold” and an average price target of $11.00.

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.