Centamin Lowered to “Add” at Investec (CEY)
Centamin (LON:CEY) was downgraded by equities research analysts at Investec to an “add” rating in a research note issued to investors on Thursday, StockRatingsNetwork.com reports. They currently have a GBX 46 ($0.76) price objective on the stock, down from their previous price objective of GBX 51 ($0.84). Investec’s target price points to a potential downside of 0.65% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity cut their price target on shares of Centamin from GBX 60 ($0.99) to GBX 53 ($0.87) in a research note to investors on Wednesday. They now have a “speculative buy” rating on the stock. Separately, analysts at Liberum Capital reiterated a “buy” rating on shares of Centamin in a research note to investors on Wednesday. They now have a GBX 63 ($1.04) price target on the stock. Finally, analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Centamin in a research note to investors on Tuesday. They now have a GBX 55 ($0.91) price target on the stock. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of GBX 52.69 ($0.87).
Centamin (LON:CEY) traded up 0.30% during mid-day trading on Thursday, hitting GBX 46.30. The stock had a trading volume of 3,216,566 shares. Centamin has a one year low of GBX 27.199 and a one year high of GBX 71.10. The stock’s 50-day moving average is GBX 43.65 and its 200-day moving average is GBX 43.28. The company’s market cap is £509.9 million.
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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