Centerra Gold Inc. Announces Quarterly Dividend of $0.07

Centerra Gold Inc. (TSE:CG) has announced its plans for a quarterly dividend on Thursday, October 31st. Shareholders of record as of Wednesday, November 13th will receive a payment of $0.07 per share on Wednesday, November 27th. This translates to an annual dividend of $0.28, providing investors with a yield of 3.08%. The ex-dividend date for this payment is also set for Wednesday, November 13th.

Current Market Status

On Friday, Centerra Gold's stock opened at C$9.10. The company has maintained a strong balance sheet, reflected in its quick ratio of 3.24 and a current ratio of 3.79. Its debt-to-equity ratio stands at 1.29, which is indicative of its financial stability. The 50-day moving average for the stock is C$9.68, while the 200-day moving average is C$9.31. Centerra Gold boasts a market capitalization of C$1.94 billion, with a P/E ratio of 10.83 and a PEG ratio of 1.26. The stock has shown a 52-week range, with a low of C$6.07 and a high of C$10.59.

Recent Earnings Performance

Centerra Gold reported its earnings results on Thursday, August 1st, revealing earnings per share (EPS) of C$0.31 for the quarter. This figure surpassed analysts' expectations, as the consensus was C$0.22, marking a positive surprise of C$0.09. The company achieved a net margin of 10.69%, alongside a return on equity of 7.98%, and generated revenues of C$386.27 million during the same quarter.

Insider Transactions

In recent developments related to insider trading, Senior Officer Yousef Rehman sold 71,419 shares on September 24th, with the shares priced at an average of C$10.03, resulting in a total sale of approximately C$716,332.57. Additionally, another Senior Officer, Claudia D'orazio, sold 29,388 shares on September 27th at an average price of C$10.20, accumulating a total value of C$299,757.60. It is noteworthy that insiders currently own about 0.21% of the company's stock.

Analyst Perspectives

Various analysts have shared insights on Centerra Gold's stock. Canaccord Genuity Group recently raised its price target from C$11.50 to C$12.50 in a report released on July 23rd. CIBC downgraded the stock from an "outperform" rating to "neutral" while adjusting the target price from C$11.00 to C$13.00 on July 10th. Raymond James also lowered their price target from C$13.50 to C$13.00, maintaining an "outperform" rating. Desjardins recently upgraded Centerra Gold to a "moderate buy" rating, indicating a positive outlook. In total, two analysts have rated the stock as a hold and four have given it a buy rating. The prevailing consensus rating is "Moderate Buy" with an average price target of C$11.83, according to MarketBeat.com.

About Centerra Gold

Centerra Gold Inc. is a prominent gold mining company that is involved in the acquisition, exploration, development, and operation of gold and copper properties across North America, Turkey, and other international markets. The company primarily focuses on exploring deposits of gold, copper, and molybdenum. Among its flagship projects are the 100% owned Mount Milligan gold-copper mine in British Columbia, Canada, as well as the Öksüt gold mine situated in Turkey.

Dividend, Stock, Earnings