Centerra Gold Inc. Announces Quarterly Dividend of $0.07

Centerra Gold Inc. (TSE:CG) has revealed its plan for a quarterly dividend, as announced on October 31st. Shareholders on record by November 13th will receive a dividend of C$0.07 per share, which is scheduled for payment on November 27th. This decision equates to an annualized dividend of C$0.28, reflecting a dividend yield of 3.08%. Furthermore, the ex-dividend date is set for November 13th.

Current Stock Performance

As of Friday, the stock opened at C$9.10. Centerra Gold has a quick ratio of 3.24 and a current ratio of 3.79. The company's debt-to-equity ratio stands at 1.29. Additionally, the stock's fifty-day moving average is C$9.68, while its two-hundred-day moving average is C$9.31. Overall, the company boasts a market capitalization of C$1.94 billion, a P/E ratio of 10.83, a PEG ratio of 1.26, and a beta rating of 1.23. Over the past year, the stock has reached a low of C$6.07 and a high of C$10.59.

Recent Earnings Report

In its latest earnings report released on August 1st, Centerra Gold reported earnings of C$0.31 per share, surpassing the analysts' expectations who had predicted C$0.22. The company achieved a net margin of 10.69% and a return on equity of 7.98%. Their revenue for the quarter was recorded at C$386.27 million.

Insider Trading Activities

Recently, there have been notable insider transactions. Senior Officer Yousef Rehman sold 71,419 shares of the company's stock on September 24th, with an average sale price of C$10.03, amounting to approximately C$716,332.57. Additionally, Senior Officer Claudia D'orazio also sold shares, disposing of 29,388 at an average price of C$10.20 on September 27th, for a value of about C$299,757.60. Currently, insiders own 0.21% of the company’s stock.

Analyst Ratings Overview

Various analysts have given their insights on Centerra Gold's stock lately. Canaccord Genuity has raised its price target for the shares from C$11.50 to C$12.50, while CIBC has downgraded Centerra Gold's stock from an “outperform” rating to “neutral,” yet increased the price target from C$11.00 to C$13.00. Raymond James reduced their target from C$13.50 to C$13.00 while maintaining an “outperform” rating. Desjardins upgraded the stock to a “moderate buy” rating, while CIBC World Markets lowered their rating from “strong buy” to “hold.” Presently, there are two analysts giving a hold rating and four suggesting a buy, resulting in a consensus rating of "Moderate Buy" and an average price target of C$11.83.

About Centerra Gold

Centerra Gold Inc. is a gold mining company involved in the acquisition, exploration, development, and operation of gold and copper mining properties across North America, Turkey, and globally. The firm targets the exploration of gold, copper, and molybdenum deposits. Its flagship assets include the fully owned Mount Milligan gold-copper mine in British Columbia, Canada, and the Öksüt gold mine situated in Turkey.

Centerra, Gold, Dividend