Centerra Gold (TSE:CG) Sets New 12-Month High Following Dividend Announcement

Shares of Centerra Gold Inc. (TSE:CG) hit a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The stock traded as high as C$31.83 and last traded at C$31.71, with a volume of 116058 shares. The stock had previously closed at C$29.58.

The newly announced dividend which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, September 2nd will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.9%. Centerra Gold’s dividend payout ratio is currently 6.45%.

Wall Street Analyst Weigh In

CG has been the topic of several recent analyst reports. Desjardins upped their price target on shares of Centerra Gold from C$30.00 to C$33.00 and gave the company a “hold” rating in a report on Thursday, April 23rd. TD boosted their target price on shares of Centerra Gold from C$31.00 to C$32.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Canadian Imperial Bank of Commerce upped their target price on shares of Centerra Gold from C$37.00 to C$38.00 in a research note on Thursday, July 30th. Raymond James Financial increased their price target on shares of Centerra Gold from C$28.00 to C$29.00 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Finally, ATB Cormark Capital Markets lifted their price target on Centerra Gold from C$26.00 to C$27.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$28.17.

Centerra Gold Price Performance

The company has a debt-to-equity ratio of 2.11, a current ratio of 2.42 and a quick ratio of 3.24. The stock has a market capitalization of C$6.19 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 1.26 and a beta of 1.83. The company has a 50-day simple moving average of C$24.31 and a two-hundred day simple moving average of C$24.63.

Centerra Gold (TSE:CG) last released its quarterly earnings results on Tuesday, July 28th. The company reported C$0.55 EPS for the quarter. The business had revenue of C$629.00 million during the quarter. Centerra Gold had a net margin of 37.72% and a return on equity of 30.90%.

Insider Activity at Centerra Gold

In other Centerra Gold news, Director Wendy Wai Ting Kei purchased 1,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were bought at an average price of C$29.76 per share, with a total value of C$29,760.00. Following the completion of the acquisition, the director owned 5,172 shares in the company, valued at approximately C$153,918.72. This represents a 23.97% increase in their position. Insiders own 0.21% of the company’s stock.

About Centerra Gold

Centerra Gold Inc is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. The Company also owns the Kemess Project in British Columbia, Canada, the Goldfield Project in Nevada, United States, and owns and operates the Molybdenum Business Unit in the United States and Canada.