Centerra Gold (NYSE:CGAU) Announces Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Centerra Gold (NYSE:CGAU) posted its quarterly earnings results on Thursday. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.03), Zacks reports. Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. The business had revenue of $302.40 million during the quarter, compared to analyst estimates of $316.92 million.

Centerra Gold Stock Performance

Shares of CGAU stock opened at $6.17 on Friday. Centerra Gold has a 52-week low of $4.88 and a 52-week high of $7.82. The company has a 50-day simple moving average of $6.07 and a two-hundred day simple moving average of $6.51. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 17.15 and a beta of 0.91.

Centerra Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 4.54%. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date is Thursday, March 13th. Centerra Gold’s dividend payout ratio is presently 61.11%.

Wall Street Analysts Forecast Growth

CGAU has been the subject of several research reports. Desjardins downgraded shares of Centerra Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 13th. Scotiabank lowered their price objective on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating for the company in a research note on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.00.

About Centerra Gold

Centerra Gold Inc, a gold mining company, engages in the acquisition, exploration, development, and operation of gold and copper properties in North America, Turkey, and internationally. The company explores for gold, copper, and molybdenum deposits. Its flagship projects are the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt gold mine located in Turkey.