Centerra Gold Inc. Declares Quarterly Dividend of $0.07 (TSE:CG)

Centerra Gold Inc. (TSE:CG) announced on Thursday, October 31st, that it will be paying a quarterly dividend to its shareholders. Investors who are on record by Wednesday, November 13th, will receive a dividend payment of $0.07 per share on Wednesday, November 27th. This translates to an annualized dividend of $0.28, resulting in a yield of 3.08%. The ex-dividend date, which is the last day that shares can be bought in order to receive the dividend, is also set for Wednesday, November 13th.

Recent Stock Performance

On Friday, the shares of Centerra Gold opened at C$9.10. The company maintains a quick ratio of 3.24, a current ratio of 3.79, and a debt-to-equity ratio of 1.29. Over the past fifty days, the stock's moving average stands at C$9.68, while the two-hundred day moving average is C$9.31. With a market capitalization of C$1.94 billion, its price-to-earnings (P/E) ratio is 10.83, and it has a PEG ratio of 1.26. The stock has ranged between a 52-week low of C$6.07 and a 52-week high of C$10.59.

Recent Earnings Report

Centerra Gold released its latest earnings results on August 1st, reporting earnings of C$0.31 per share for the quarter. This figure exceeded analysts' predictions of C$0.22 by C$0.09. The company showed a net margin of 10.69% and a return on equity of 7.98%, with quarterly revenues reaching C$386.27 million.

Insider Trading Activity

Recently, some insider transactions have been noted. Senior Officer Yousef Rehman sold 71,419 shares on September 24th at an average price of C$10.03, totaling approximately C$716,332.57. Additionally, another Senior Officer, Claudia D'orazio, sold 29,388 shares on September 27th for an average of C$10.20, amounting to roughly C$299,757.60. Insiders currently hold about 0.21% of the company’s shares.

Analyst Ratings

Analysts have recently made various recommendations regarding Centerra Gold. Canaccord Genuity Group raised their price target on the stock from C$11.50 to C$12.50 in a report published on July 23rd. Similarly, CIBC downgraded their rating from “outperform” to “neutral” while adjusting their price target from C$11.00 to C$13.00 on July 10th. Raymond James also reduced their target price from C$13.50 to C$13.00 and maintained an “outperform” rating as of September 30th. Desjardins has upgraded Centerra Gold to a “moderate buy” in their latest report, with overall ratings showing two analysts rating the stock as a hold and four as a buy, leading to a consensus rating of “Moderate Buy” and a price target of C$11.83.

About Centerra Gold

Centerra Gold Inc. is a mining company engaged in the acquisition, exploration, development, and operation of gold and copper properties across North America, Turkey, and other regions. The company focuses on the discovery of gold, copper, and molybdenum deposits. Its key projects include the Mount Milligan gold-copper mine in British Columbia, Canada, and the Öksüt gold mine in Turkey.

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