Centerra Gold Inc. (NYSE:CGAU) Shares Set to Pay Quarterly Dividend of C$0.07

Centerra Gold Inc. (NYSE:CGAU) declared a quarterly dividend on Thursday, October 29th. Stockholders of record on Thursday, November 19th will be given a dividend of C$0.07 per share on Wednesday, December 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, November 19th.

Centerra Gold has a payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Centerra Gold to earn $1.97 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 10.2%.

Centerra Gold Stock Performance

Shares of CGAU traded down $0.58 during trading hours on Friday, reaching $19.85. 832,976 shares of the company traded hands, compared to its average volume of 1,698,484. The stock’s fifty day moving average is $22.26 and its 200 day moving average is $18.93. The stock has a market cap of $3.88 billion, a P/E ratio of 6.34, a price-to-earnings-growth ratio of 1.98 and a beta of 0.84. Centerra Gold has a 1-year low of $11.13 and a 1-year high of $24.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.49 and a current ratio of 2.42.

Centerra Gold (NYSE:CGAU) last issued its earnings results on Thursday, October 29th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. Centerra Gold had a return on equity of 15.35% and a net margin of 36.92%. The business had revenue of $500.30 million during the quarter, compared to analysts’ expectations of $440.83 million. Equities research analysts anticipate that Centerra Gold will post 1.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Centerra Gold

A number of institutional investors and hedge funds have recently bought and sold shares of CGAU. Integrated Wealth Concepts LLC purchased a new position in shares of Centerra Gold during the 2nd quarter valued at $28,000. Pinnacle Holdings LLC purchased a new stake in Centerra Gold during the 2nd quarter valued at about $45,000. C M Bidwell & Associates Ltd. bought a new position in Centerra Gold during the 2nd quarter valued at approximately $83,000. Farther Finance Advisors LLC boosted its holdings in Centerra Gold by 18.1% in the third quarter. Farther Finance Advisors LLC now owns 7,177 shares of the company’s stock valued at $156,000 after acquiring an additional 1,101 shares in the last quarter. Finally, State of Wyoming bought a new position in Centerra Gold in the second quarter worth about $185,000. 55.40% of the stock is owned by hedge funds and other institutional investors.

About Centerra Gold

Centerra Gold Inc is a Canadian-based mining company focused on the acquisition, exploration, development and operation of gold and copper properties. The company produces gold doré and copper-gold concentrate from its operating mines and manages related processing, infrastructure and exploration activities.

Centerra’s principal assets include the Mount Milligan copper-gold mine in British Columbia, Canada, and the Öksüt gold mine in Türkiye. The company also owns the Kemess project in British Columbia, which is being advanced as a potential copper-gold development project.