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 given 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 4.21%. This is an increase 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% indicating that 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

CGAU traded up $0.20 during trading on Thursday, reaching $6.65. The stock had a trading volume of 748,560 shares, compared to its average volume of 697,995. The business has a 50-day moving average of $6.05 and a 200-day moving average of $6.51. Centerra Gold has a one year low of $4.88 and a one year high of $7.82. The stock has a market cap of $1.40 billion, a PE ratio of 13.84 and a beta of 0.91.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings data 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%. Equities research analysts forecast that Centerra Gold will post 0.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on CGAU. Desjardins downgraded shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 13th. Scotiabank lowered their price target 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.