Centerra Gold Inc. (NYSE:CGAU) Raises Dividend to $0.07 Per Share

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 annualized dividend and a dividend yield of 4.21%. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05.

Centerra Gold has raised its dividend by an average of 13.8% per year over the last three years. Centerra Gold has a dividend payout ratio of 25.6% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

Shares of Centerra Gold stock opened at $6.65 on Friday. The business’s 50 day simple moving average is $6.06 and its 200 day simple moving average is $6.51. The firm has a market cap of $1.40 billion, a PE ratio of 13.84 and a beta of 0.91. Centerra Gold has a 52-week low of $4.88 and a 52-week high of $7.82.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. As a group, equities research analysts predict that Centerra Gold will post 0.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Desjardins downgraded Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 13th. Scotiabank dropped their price objective on shares of Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a research note on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.