Centerra Gold Inc. (NYSE:CGAU) Plans Dividend Increase - $0.07 Per Share

Centerra Gold Inc. (NYSE:CGAU - Get Free Report) 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 annualized dividend and a dividend yield of 4.54%. The ex-dividend date is Thursday, March 13th. This is a positive change from Centerra Gold's previous quarterly dividend of $0.05.

Centerra Gold has raised its dividend payment by an average of 13.8% annually over the last three years. Centerra Gold has a dividend payout ratio of 25.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Centerra Gold to earn $0.70 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 28.6%.

Centerra Gold Trading Down 7.2 %

Shares of Centerra Gold stock traded down $0.48 on Friday, hitting $6.17. The stock had a trading volume of 1,135,966 shares, compared to its average volume of 648,087. Centerra Gold has a 52-week low of $4.88 and a 52-week high of $7.82. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 17.15 and a beta of 0.91. The company's 50 day moving average price is $6.07 and its 200 day moving average price is $6.51.

Centerra Gold (NYSE:CGAU - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. The firm had revenue of $302.40 million during the quarter, compared to analysts' expectations of $316.92 million. Analysts predict that Centerra Gold will post 0.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on CGAU shares. Desjardins downgraded Centerra Gold from a "moderate buy" rating to a "hold" rating in a research note on Thursday, February 13th. Scotiabank reduced their price objective on 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target 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.