Centamin (DI) (CEY)

Sector:

Mining

Index:

FTSE 250

124.05p
   
  • Change Today:
      0.25p
  • 52 Week High: 153.15
  • 52 Week Low: 79.84
  • Currency: UK Pounds
  • Shares Issued: 1,155.96m
  • Volume: 3,158,298
  • Market Cap: £1,433.96m
  • RiskGrade: 470

Centamin posts rise in Q4 gold production, backs 2020 guidance

By Michele Maatouk

Date: Thursday 09 Jan 2020

LONDON (ShareCast) - (Sharecast News) - FTSE 250 gold miner Centamin posted a jump in fourth-quarter production on Thursday as it backed its guidance for 2020.
In the three months to the end of December, gold production at the Sukari mine rose 51% from the third quarter to 148,387 ounces. For 2019 as a whole, gold production was up 2% on the previous year at 480,529 ounces.

The company said production guidance for 2020 was unchanged at 510,000 to 540,000 ounces.

Chief executive officer Ross Jerrard said: "As expected, the fourth quarter production result represents one of the strongest quarterly results from Sukari and is a significant achievement for our operational team.

"During 2019 there have been substantial changes in senior management and this transition in leadership is beginning to be reflected in our improved operating performance."

Centamin is currently being courted by Canada's Endeavour Mining Corp, which has until 14 January to make a firm offer for the London-listed gold miner. In December, Centamin rejected a buyout proposal from Endeavour worth £1.5bn.

RBC Capital Markets analyst James Bell said: "Whilst today's improved Q4 performance demonstrates the mine appears to be stabilising we think market perceptions will remain cautious towards the group for some time and that this could hamper valuation.

"As we have written multiple times, the feedback we hear from global investors is that single asset gold producers are potentially not viable long-term investments and hence may struggle to gain premium ratings. The proposed offer would resolve this and, if the London listing can be maintained, would provide exposure to a larger more liquid name that could, in our view, re-rate higher over time."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Centamin (DI) Market Data

Currency UK Pounds
Share Price 124.05p
Change Today 0.25p
% Change 0.20 %
52 Week High 153.15
52 Week Low 79.84
Volume 3,158,298
Shares Issued 1,155.96m
Market Cap £1,433.96m
RiskGrade 470

Centamin (DI) Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
38.77% below the market average38.77% below the market average38.77% below the market average38.77% below the market average38.77% below the market average
85.71% below the sector average85.71% below the sector average85.71% below the sector average85.71% below the sector average85.71% below the sector average
Price Trend
72.45% above the market average72.45% above the market average72.45% above the market average72.45% above the market average72.45% above the market average
72.36% above the sector average72.36% above the sector average72.36% above the sector average72.36% above the sector average72.36% above the sector average
Income
2.21% below the market average2.21% below the market average2.21% below the market average2.21% below the market average2.21% below the market average
80.95% below the sector average80.95% below the sector average80.95% below the sector average80.95% below the sector average80.95% below the sector average
Growth
73.14% below the market average73.14% below the market average73.14% below the market average73.14% below the market average73.14% below the market average
93.1% below the sector average93.1% below the sector average93.1% below the sector average93.1% below the sector average93.1% below the sector average

What The Brokers Say

Strong Buy 8
Buy 0
Neutral 4
Sell 0
Strong Sell 1
Total 13
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Centamin (DI) Dividends

  Latest Previous
  Final Interim
Ex-Div 21-May-20 29-Aug-19
Paid 12-Jun-20 27-Sep-19
Amount 6.00¢ 4.00¢

Trades for 03-Apr-2020

Time Volume / Share Price
16:51 200,000 @ 123.65p
16:35 484,607 @ 124.05p
16:29 73 @ 123.50p
16:29 331 @ 123.75p
16:29 3,946 @ 123.75p

Centamin (DI) Key Personnel

CFO Ross Jerrard
CEO Martin Horgan

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