Centerra Gold Inc. (NYSE:CGAU) to Issue $0.05 Quarterly Dividend

Centerra Gold Inc. (NYSE:CGAU) announced a quarterly dividend on Thursday, August 1st, Zacks reports. Shareholders of record on Thursday, August 15th will be given a dividend of 0.051 per share on Thursday, August 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Thursday, August 15th.

Centerra Gold has a payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Centerra Gold to earn $0.53 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 37.7%.

Centerra Gold Price Performance

Shares of CGAU traded up $0.12 on Wednesday, reaching $7.09. The company’s stock had a trading volume of 175,467 shares, compared to its average volume of 502,484. The stock’s 50 day simple moving average is $6.75 and its two-hundred day simple moving average is $6.22. The stock has a market capitalization of $1.52 billion, a P/E ratio of 25.83 and a beta of 0.98. Centerra Gold has a 12-month low of $4.47 and a 12-month high of $7.51.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.07. The business had revenue of $282.31 million for the quarter. Centerra Gold had a net margin of 10.68% and a return on equity of 10.77%. During the same quarter in the prior year, the business earned ($0.20) EPS. Analysts expect that Centerra Gold will post 0.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CGAU. Scotiabank upped their price target on Centerra Gold from $8.00 to $9.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 23rd. CIBC reaffirmed a “neutral” rating and set a $13.00 price target (up previously from $11.00) on shares of Centerra Gold in a report on Wednesday, July 10th. Finally, Cibc World Mkts lowered shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Centerra Gold has a consensus rating of “Moderate Buy” and a consensus price target of $9.80.

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.