Centamin PT Lowered to GBX 60 (CEY)
Investment analysts at Merrill Lynch reduced their price objective on shares of Centamin (LON:CEY) from GBX 74 ($1.19) to GBX 60 ($0.96) in a note issued to investors on Friday, Analyst Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Merrill Lynch’s price objective points to a potential upside of 31.18% from the stock’s previous close.
Centamin (LON:CEY) traded down 3.28% during mid-day trading on Friday, hitting GBX 45.7397. The stock had a trading volume of 3,142,848 shares. Centamin has a 52 week low of GBX 19.00 and a 52 week high of GBX 108.30. The stock has a 50-day moving average of GBX 40.91 and a 200-day moving average of GBX 41.46. The company’s market cap is £503.8 million.
Several other analysts have also recently commented on the stock. Analysts at Davy Research upgraded shares of Centamin (LON:CEY) from a “neutral” rating to an “outperform” rating in a research note to investors on Friday. They now have a GBX 54 ($0.86) price target on the stock, up previously from GBX 45 ($0.72). Separately, analysts at Bank of America Corp. reiterated a “buy” rating on shares of Centamin (LON:CEY) in a research note to investors on Friday. They now have a GBX 60 ($0.96) price target on the stock. Finally, analysts at Liberum Capital reiterated a “buy” rating on shares of Centamin (LON:CEY) in a research note to investors on Tuesday. They now have a GBX 67 ($1.07) price target on the stock. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Centamin currently has an average rating of “Buy” and a consensus target price of GBX 52.92 ($0.85).
Centamin plc is the ultimate holding company. The Company, along with its subsidiaries, is engaged in the business of exploration for precious and base metals.
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