Centamin (DI) (CEY)

Sector:

Mining

Index:

FTSE 250

203.20p
   
  • Change Today:
    -16.20p
  • 52 Week High: 232.10
  • 52 Week Low: 94.44
  • Currency: UK Pounds
  • Shares Issued: 1,155.96m
  • Volume: 9,150,137
  • Market Cap: £2,348.90m
  • RiskGrade: 260

Centamin offers chunky dividend yield, Berenberg says

By Sean Farrell

Date: Wednesday 22 Apr 2020

LONDON (ShareCast) - (Sharecast News) - Centamin is on track for 2020 production guidance and its dividend looks set to deliver a chunky yield, Berenberg said as it increased its price target for the gold miner.


The first half of 2020 is important for Centamin to rebuild confidence among investors after rejecting a takeover approach in December, Berenberg said.

The company's first-quarter trading was pleasing with production and costs in line with full-year guidance, the broker said as it increased its price target to 148p from 137p and left the shares' 'buy' rating intact.

Centamin's production is expected to dip in the second quarter but the third quarter should offset this, leaving Centamin placed to achieve guidance of 510-540koz for the year, Berenberg said, though its forecast is at the low end of the range.

The first interim dividend of 6 cents a share should instil confidence in the company's ability to achieve a sector-leading yield of 9%, Berenberg said. The Egypt-focused miner also has a strong balance sheet with $379m (?307m) of cash and liquid assets.

"We maintain our 'buy' rating, but note that, given the strong demand for gold exposure, shares have been a recent strong performer and we therefore would look to add to positions on any meaningful pullback," Lauren Kimman and her fellow analysts wrote in a note to clients.

In its first-quarter update on 21 April, Centamin said it had no recorded cases of Covid-19 at its Sukari mine and there had been no material disruptions to operations, supply chains or gold shipments. The company's shares have risen by almost two-thirds since 18 March as investors have turned to gold during the Covid-19 crisis.

Centamin shares were up 8.9% to 154p at 14:43 BST.



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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 203.20p
Change Today -16.20p
% Change -7.38 %
52 Week High 232.10
52 Week Low 94.44
Volume 9,150,137
Shares Issued 1,155.96m
Market Cap £2,348.90m
RiskGrade 260

Centamin (DI) Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
36.01% below the market average36.01% below the market average36.01% below the market average36.01% below the market average36.01% below the market average
94.69% below the sector average94.69% below the sector average94.69% below the sector average94.69% below the sector average94.69% below the sector average
Price Trend
90.90% above the market average90.90% above the market average90.90% above the market average90.90% above the market average90.90% above the market average
60.33% above the sector average60.33% above the sector average60.33% above the sector average60.33% above the sector average60.33% above the sector average
Income
41.07% above the market average41.07% above the market average41.07% above the market average41.07% above the market average41.07% above the market average
30.43% below the sector average30.43% below the sector average30.43% below the sector average30.43% below the sector average30.43% below the sector average
Growth
59.56% below the market average59.56% below the market average59.56% below the market average59.56% below the market average59.56% below the market average
89.66% below the sector average89.66% below the sector average89.66% below the sector average89.66% below the sector average89.66% below the sector average

What The Brokers Say

Strong Buy 7
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 10
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
  2nd Interim 1st Interim
Ex-Div 13-Aug-20 30-Apr-20
Paid 11-Sep-20 15-May-20
Amount 6.00¢ 6.00¢

Trades for 11-Aug-2020

Time Volume / Share Price
16:35 894,951 @ 203.20p
16:29 34 @ 203.80p
16:29 434 @ 203.80p
16:29 6 @ 203.80p
16:29 5,988 @ 203.60p

Centamin (DI) Key Personnel

CFO Ross Jerrard
CEO Martin Horgan

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