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

Centerra Gold Inc. (TSE:CG)’s share price reached a new 52-week high on Wednesday after the company announced a dividend. The stock traded as high as C$31.83 and last traded at C$31.71, with a volume of 116058 shares trading hands. The stock had previously closed at C$29.58.

The newly announced dividend which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, September 2nd will be given a dividend of $0.07 per share. The ex-dividend date 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 presently 6.45%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CG. Canadian Imperial Bank of Commerce lifted their target price on shares of Centerra Gold from C$37.00 to C$38.00 in a report on Thursday, July 30th. TD raised their price objective on shares of Centerra Gold from C$31.00 to C$32.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Desjardins boosted their target price on Centerra Gold from C$30.00 to C$33.00 and gave the stock a “hold” rating in a research report on Thursday, April 23rd. Raymond James Financial increased their target price on Centerra Gold from C$28.00 to C$29.00 and gave the stock a “market perform” rating in a research note 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 company a “sector perform” rating in a research note on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Centerra Gold has an average rating of “Moderate Buy” and an average target price of C$28.17.

Centerra Gold Stock 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 company has a market capitalization of C$6.19 billion, a PE ratio of 10.12, a P/E/G ratio of 1.26 and a beta of 1.83. The stock has a 50-day simple moving average of C$24.31 and a 200 day simple moving average of C$24.63.

Centerra Gold (TSE:CG) last issued its quarterly earnings data on Tuesday, July 28th. The company reported C$0.55 EPS for the quarter. The firm had revenue of C$629.00 million for 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 acquired 1,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was acquired at an average cost of C$29.76 per share, with a total value of C$29,760.00. Following the purchase, the director directly owned 5,172 shares in the company, valued at approximately C$153,918.72. This trade represents a 23.97% increase in their position. 0.21% of the stock is owned by corporate insiders.

Centerra Gold Company Profile

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.