Centerra Gold Inc. (CGAU) To Go Ex-Dividend on May 22nd

Centerra Gold Inc. (NYSE:CGAU) announced a quarterly dividend on Tuesday, May 6th, RTT News reports. Shareholders of record on Thursday, May 22nd will be given a dividend of 0.07 per share on Thursday, June 5th. This represents a $0.28 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend is Thursday, May 22nd.

Centerra Gold has increased its dividend payment by an average of 13.8% annually over the last three years. Centerra Gold has a payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Up 1.7%

Shares of NYSE:CGAU opened at $6.60 on Tuesday. Centerra Gold has a 52-week low of $5.41 and a 52-week high of $7.82. The stock’s fifty day simple moving average is $6.44 and its 200-day simple moving average is $6.17. The company has a market capitalization of $1.39 billion, a P/E ratio of 18.33 and a beta of 0.80.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. Centerra Gold had a return on equity of 8.83% and a net margin of 6.62%. The business had revenue of $299.50 million for the quarter, compared to the consensus estimate of $288.25 million. On average, sell-side analysts anticipate that Centerra Gold will post 0.59 earnings per share for the current year.

Institutional Investors Weigh In On Centerra Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake in Centerra Gold by 57.2% during the first quarter. Goldman Sachs Group Inc. now owns 13,344,727 shares of the company’s stock worth $84,739,000 after acquiring an additional 4,853,494 shares during the last quarter. Empowered Funds LLC purchased a new stake in Centerra Gold during the 1st quarter worth approximately $218,000. Cubist Systematic Strategies LLC acquired a new position in shares of Centerra Gold in the 1st quarter worth approximately $192,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Centerra Gold in the 1st quarter worth approximately $97,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Desjardins downgraded Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 13th. National Bankshares reiterated an “outperform” rating on shares of Centerra Gold in a research report on Wednesday, April 23rd. Raymond James reiterated an “outperform” rating on shares of Centerra Gold in a research report on Friday, April 4th. Cormark downgraded Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, CIBC reiterated a “neutral” rating on shares of Centerra Gold in a research report on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.00.

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.