Centerra Gold (CGAU) Declares $0.07 Dividend
Centerra Gold said on May 15, 2023 that its board of directors declared a regular quarterly dividend of $0.07 per share ($0.28 annualized). Previously, the company paid $0.07 per share.
Shares must be purchased before the ex-div date of May 26, 2023 to qualify for the dividend. Shareholders of record as of May 29, 2023 will receive the payment on June 12, 2023.
At the current share price of $5.47 / share, the stock's dividend yield is 5.12%.
Additionally, the company's dividend payout ratio is -0.26. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 184 funds or institutions reporting positions in Centerra Gold. This is an increase of 6 owner(s) or 3.37% in the last quarter. Average portfolio weight of all funds dedicated to CGAU is 0.34%, an increase of 3.59%. Total shares owned by institutions decreased in the last three months by 3.81% to 144,844K shares. 
The put/call ratio of CGAU is 0.28, indicating a bullish outlook.
Analyst Price Forecast Suggests 51.14% Upside
As of May 11, 2023, the average one-year price target for Centerra Gold is 8.27. The forecasts range from a low of 5.85 to a high of $10.22. The average price target represents an increase of 51.14% from its latest reported closing price of 5.47.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Centerra Gold is 1,071MM. The projected annual non-GAAP EPS is 0.57.
What are Other Shareholders Doing?
Van Eck Associates holds 17,883K shares representing 8.18% ownership of the company. In it's prior filing, the firm reported owning 15,965K shares, representing an increase of 10.73%. The firm increased its portfolio allocation in CGAU by 23.27% over the last quarter.
Helikon Investments holds 13,453K shares representing 6.15% ownership of the company. In it's prior filing, the firm reported owning 16,435K shares, representing a decrease of 22.16%. The firm increased its portfolio allocation in CGAU by 72,639.44% over the last quarter.
GDX - VanEck Vectors Gold Miners ETF holds 11,407K shares representing 5.22% ownership of the company. In it's prior filing, the firm reported owning 11,270K shares, representing an increase of 1.20%. The firm decreased its portfolio allocation in CGAU by 7.25% over the last quarter.
Condire Management holds 8,660K shares representing 3.96% ownership of the company. In it's prior filing, the firm reported owning 8,690K shares, representing a decrease of 0.35%. The firm increased its portfolio allocation in CGAU by 35.87% over the last quarter.
Ruffer LLP holds 6,517K shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 6,677K shares, representing a decrease of 2.45%. The firm decreased its portfolio allocation in CGAU by 37.13% over the last quarter.
Centerra Gold Background Information
(This description is provided by the company.)
Centerra Gold Inc, acquires, explores, develops, and operates gold properties primarily in North America, Asia and other markets worldwide. The Company currently operates the Mount Milligan Mine mine in Canada and the Kumtor Mine in the Krygyz Republic.
This story originally appeared on Fintel.