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. Investors 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 annualized dividend and a 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% annually over the last three years. Centerra Gold has a dividend payout ratio of 25.6% indicating that its dividend is sufficiently covered by earnings. 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 Up 3.0 %

Shares of NYSE:CGAU traded up $0.20 on Thursday, hitting $6.65. The company had a trading volume of 748,560 shares, compared to its average volume of 697,995. The firm’s 50-day simple moving average is $6.05 and its two-hundred day simple moving average is $6.51. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 13.84 and a beta of 0.91. Centerra Gold has a 1 year low of $4.88 and a 1 year high of $7.82.

Centerra Gold (NYSE:CGAU) last issued 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 return on equity of 10.34% and a net margin of 8.31%. Equities research analysts anticipate that Centerra Gold will post 0.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CGAU shares. Scotiabank dropped their price target on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, January 15th. Desjardins cut shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, 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.