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

Centerra Gold Inc. (NYSE:CGAU) announced a quarterly dividend on Thursday, October 31st, Zacks reports. Shareholders of record on Wednesday, November 13th will be given a dividend of 0.052 per share on Wednesday, November 27th. This represents a $0.21 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Wednesday, November 13th. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05.

Centerra Gold has a dividend payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Centerra Gold to earn $0.66 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 31.8%.

Centerra Gold Stock Down 7.9 %

CGAU traded down $0.56 during trading on Friday, reaching $6.52. 1,642,666 shares of the company’s stock were exchanged, compared to its average volume of 632,914. Centerra Gold has a fifty-two week low of $4.47 and a fifty-two week high of $7.82. The business has a 50 day moving average price of $7.09 and a 200 day moving average price of $6.85. The company has a market capitalization of $1.38 billion, a P/E ratio of 10.35 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.07. Centerra Gold had a net margin of 10.68% and a return on equity of 10.72%. The firm had revenue of $282.31 million for the quarter. During the same quarter in the prior year, the firm earned ($0.20) EPS. As a group, research analysts forecast that Centerra Gold will post 0.84 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Desjardins upgraded shares of Centerra Gold to a “moderate buy” rating in a research note on Thursday. CIBC restated a “neutral” rating and issued a $13.00 target price (up previously from $11.00) on shares of Centerra Gold in a research note on Wednesday, July 10th. Finally, Cibc World Mkts downgraded shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.00.

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.