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

Centerra Gold Inc. (NYSE:CGAU) declared a quarterly dividend on Thursday, October 31st, Zacks reports. Investors of record on Wednesday, November 13th will be paid a dividend of 0.052 per share on Wednesday, November 27th. This represents a $0.21 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05.

Centerra Gold has a payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Centerra Gold to earn $0.66 per share next year, which means the company should continue to be able to cover its $0.21 annual dividend with an expected future payout ratio of 31.8%.

Centerra Gold Stock Down 7.9 %

Shares of NYSE:CGAU traded down $0.56 during trading on Friday, reaching $6.52. The stock had a trading volume of 1,642,666 shares, compared to its average volume of 632,914. Centerra Gold has a 52 week low of $4.47 and a 52 week high of $7.82. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 10.35 and a beta of 0.98. The stock has a fifty day simple moving average of $7.09 and a two-hundred day simple moving average of $6.85.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.07. Centerra Gold had a net margin of 10.68% and a return on equity of 10.72%. The company had revenue of $282.31 million for the quarter. During the same period in the prior year, the business earned ($0.20) EPS. On average, analysts forecast that Centerra Gold will post 0.84 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CGAU. Cibc World Mkts lowered shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. CIBC restated a “neutral” rating and issued a $13.00 price objective (up previously from $11.00) on shares of Centerra Gold in a research note on Wednesday, July 10th. Finally, Desjardins upgraded shares of Centerra Gold to a “moderate buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus 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.