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

Crispin Odey says governments could ban private gold ownership

By Sean Farrell

Date: Wednesday 20 May 2020

LONDON (ShareCast) - (Sharecast News) - Crispin Odey, one of Europe's most prominent hedge fund managers, has said governments might ban private ownership of gold if inflation runs out of control after the Covid-19 crisis.
The price of gold has rocketed during the Covid-19 pandemic as investors have sought safety with markets crashing and economies heading into deep recession.

In a note to investors, seen by Bloomberg, Odey wrote: "It is no surprise that people are buying gold. But the authorities may attempt at some point to de-monetise gold, making it illegal to own as a private individual. They will only do this if they feel the need to create a stable unit of account for world trade."

Odey, who is a critic of central bank policies, increased the gold position in his main Odey European fund so that June gold futures represented almost 40% of net asset value at the end of April from 15.9% at the end of March, Bloomberg said. The fund gained 21% in March but was down 9.5% in April.

The US government imposed purchases of private gold holdings in 1933 as it devalued the dollar during the Great Depression. The dollar and other major currencies are no longer pegged to the gold price, leaving less reason for such compulsory purchases.

Some economists argue the build-up of government debt during the coronavirus crisis will be followed by high inflation. That scenario would benefit gold prices.

"History is filled with examples where rulers have, in moments of crisis, resorted to debasing the coinage," Odey wrote in his letter.









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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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