Centamin (LON:CEY) Trading 2.8% Higher – Here’s Why

Centamin plc (LON:CEY)’s stock price traded up 2.8% during mid-day trading on Thursday . The company traded as high as GBX 147.90 ($1.85) and last traded at GBX 146 ($1.82). 126,699,313 shares traded hands during mid-day trading, an increase of 1,939% from the average session volume of 6,212,938 shares. The stock had previously closed at GBX 142 ($1.77).

Wall Street Analyst Weigh In

CEY has been the topic of several research reports. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 160 ($2.00) price objective on shares of Centamin in a research report on Wednesday, August 21st. Canaccord Genuity Group restated a “buy” rating and issued a GBX 150 ($1.87) target price on shares of Centamin in a research note on Tuesday, September 10th.

Centamin Price Performance

The firm’s 50 day moving average price is GBX 151.71 and its two-hundred day moving average price is GBX 137.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.44 and a quick ratio of 2.09. The stock has a market cap of £1.69 billion, a PE ratio of 2,920.00, a P/E/G ratio of -1.53 and a beta of 0.56.

About Centamin

Centamin plc, together with its subsidiaries, engages in the exploration, mining, and development of gold and precious metals in Egypt, Côte d'Ivoire, Burkina Faso, Jersey, the United Kingdom, and Australia. Its principal asset is the Sukari Gold Mine project, which covers an area of approximately 160 square kilometers located in the Eastern Desert of Egypt.