Centamin PLC (CEY) Earns “Buy” Rating from Canaccord Genuity
Centamin PLC (LON:CEY)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity in a research note issued on Monday. They currently have a GBX 165 ($2.14) price objective on the mining company’s stock. Canaccord Genuity’s price target points to a potential upside of 6.45% from the company’s previous close.
Several other brokerages have also recently commented on CEY. Panmure Gordon reissued a “buy” rating on shares of Centamin PLC in a research note on Monday, April 10th. Investec reaffirmed a “buy” rating and set a GBX 185 ($2.40) target price on shares of Centamin PLC in a research report on Monday, June 12th. Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating on shares of Centamin PLC in a research report on Thursday, March 16th. Macquarie upped their target price on Centamin PLC from GBX 180 ($2.33) to GBX 200 ($2.59) and gave the stock an “outperform” rating in a research report on Thursday, June 8th. Finally, BNP Paribas initiated coverage on Centamin PLC in a research report on Thursday, May 18th. They set an “outperform” rating and a GBX 210 ($2.72) target price for the company. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of GBX 192.40 ($2.49).
Shares of Centamin PLC (LON:CEY) traded up 1.31% on Monday, reaching GBX 155.00. 5,960,849 shares of the company’s stock were exchanged. The company’s market capitalization is GBX 1.79 billion. The firm’s 50 day moving average price is GBX 165.65 and its 200-day moving average price is GBX 162.35. Centamin PLC has a 12 month low of GBX 114.60 and a 12 month high of GBX 193.90.
In other news, insider Josef El-Raghy sold 5,350,000 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of GBX 177 ($2.29), for a total value of £9,469,500 ($12,266,191.71). Also, insider Trevor Stanley Schultz acquired 2,600 shares of Centamin PLC stock in a transaction dated Tuesday, May 9th. The stock was acquired at an average cost of GBX 154 ($1.99) per share, with a total value of £4,004 ($5,186.53). Insiders sold 10,383,333 shares of company stock valued at $1,817,549,944 over the last three months.
About Centamin PLC
Centamin plc is a mineral exploration, development and mining company. The Company is engaged in the business of exploration and production of precious metals. It operates in Australia, Jersey, Egypt, Burkina Faso and Cote d’Ivoire. Its principal asset, the Sukari Gold Mine (SGM), is located in the Eastern Desert, approximately 900 kilometers from Cairo and 25 kilometers from the Red Sea.
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