Centerra Gold Inc. (NYSE:CGAU) to Issue Quarterly Dividend of C$0.07

Centerra Gold Inc. (NYSE:CGAU) announced a quarterly dividend on Tuesday, July 28th. Investors of record on Wednesday, August 19th will be given a dividend of 0.07 per share on Wednesday, September 2nd. This represents a c) dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, August 19th.

Centerra Gold has a dividend payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Centerra Gold to earn $1.89 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 10.6%.

Centerra Gold Stock Up 6.6%

Centerra Gold stock traded up $1.05 during midday trading on Wednesday, hitting $17.12. 1,098,104 shares of the stock were exchanged, compared to its average volume of 1,852,977. Centerra Gold has a 1 year low of $6.71 and a 1 year high of $21.17. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.60. The firm has a market cap of $3.39 billion, a P/E ratio of 5.51, a P/E/G ratio of 0.62 and a beta of 0.81. The company has a 50 day moving average price of $16.28 and a two-hundred day moving average price of $17.49.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $442.71 million during the quarter, compared to analysts’ expectations of $394.27 million. Centerra Gold had a net margin of 40.32% and a return on equity of 14.90%. On average, sell-side analysts predict that Centerra Gold will post 1.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Centerra Gold

A number of hedge funds have recently bought and sold shares of CGAU. Global Retirement Partners LLC acquired a new stake in Centerra Gold during the fourth quarter valued at approximately $36,000. Osaic Holdings Inc. grew its position in shares of Centerra Gold by 63.0% in the 2nd quarter. Osaic Holdings Inc. now owns 4,758 shares of the company’s stock worth $34,000 after acquiring an additional 1,839 shares in the last quarter. Leonteq Securities AG bought a new stake in shares of Centerra Gold in the 4th quarter valued at approximately $72,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Centerra Gold during the 4th quarter valued at approximately $100,000. Finally, Kestra Advisory Services LLC bought a new position in Centerra Gold during the fourth quarter worth $115,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

About Centerra Gold

Centerra Gold Inc is a gold mining company incorporated in Canada and headquartered in Toronto. The company specializes in the exploration, development and operation of precious metals properties, with a focus on gold production. Centerra’s portfolio includes the Mount Milligan mine in British Columbia, Canada, and the Otjikoto mine in Namibia. Both operations produce gold and copper concentrates and employ modern mining methods and processing facilities to optimize recovery rates and minimize environmental impact.

In addition to its producing assets, Centerra is advancing the development of its Greenstone Gold Project in Ontario, Canada, which, upon completion, is expected to become one of Canada’s largest gold mines.