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

Centerra Gold Inc. (NYSE:CGAU) announced a quarterly dividend on Thursday, October 31st,Zacks Dividends reports. Stockholders 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 dividend yield of 3.35%. The ex-dividend date is Wednesday, November 13th. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05.

Centerra Gold has a dividend payout ratio of 28.6% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 4.0 %

Shares of CGAU stock opened at $6.20 on Tuesday. The stock’s fifty day simple moving average is $6.99 and its 200-day simple moving average is $6.87. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 12.92 and a beta of 0.98. Centerra Gold has a 1-year low of $4.47 and a 1-year high of $7.82.

Centerra Gold (NYSE:CGAU) last released its earnings results on Thursday, October 31st. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $323.93 million for the quarter. Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. During the same quarter in the previous year, the business posted $0.20 earnings per share. On average, sell-side analysts predict that Centerra Gold will post 0.81 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Desjardins upgraded shares of Centerra Gold to a “moderate buy” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock 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.