Centamin (DI) (CEY)

Sector:

Mining

Index:

FTSE 250

104.60p
   
  • Change Today:
      1.95p
  • 52 Week High: 232.10
  • 52 Week Low: 100.00
  • Currency: UK Pounds
  • Shares Issued: 1,156.45m
  • Volume: 3,471,563
  • Market Cap: £1,209.65m
  • RiskGrade: 204

BofA backs Centamin with 'buy' rating

By Abigail Townsend

Date: Thursday 03 Dec 2020

LONDON (ShareCast) - (Sharecast News) - Bank of America has upgraded Centamin to 'buy' after new chief executive Martin Horgan outlined his three-year outlook for the gold miner.
The bank, which previously had a 'neutral' rating on the London-listed stock, said the firm was now targeted to produce 405-500,000 ounces at all-in sustaining costs below $900/oz. from 2024.

It continued: "Production should ramp up from the 2022 full year, costs reduce thanks to economies of scale and cost savings initiatives. Capex to increase in the short term, as a result of higher waste stripping; this should provide greater flexibility in the mine plan."

BofA also pointed to Centamin's strong, debt-free balance sheet, and to a management focus on stabilising both production profile and cash flow generation.

It has therefore reduced its forecasts for earnings before interest, tax, depreciation and amortisation for the current year by 3%, but increased them by 3% for the 2021 full-year, to $448m.

Centamin, which has hosted a Capital Markets Day for analysts, is focused on the Arabian-Nubian Shield, and operates the Sukari gold mine Egypt. Horgan, the former head of Toro Gold, was named chief executive in April.

As at 1415 GMT, shares in the FTSE 250 miner were ahead 3% at 122.76p.

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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 104.60p
Change Today 1.95p
% Change 1.90 %
52 Week High 232.10
52 Week Low 100.00
Volume 3,471,563
Shares Issued 1,156.45m
Market Cap £1,209.65m
RiskGrade 204

Centamin (DI) Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
77.39% above the market average77.39% above the market average77.39% above the market average77.39% above the market average77.39% above the market average
81.82% below the sector average81.82% below the sector average81.82% below the sector average81.82% below the sector average81.82% below the sector average
Price Trend
80.48% below the market average80.48% below the market average80.48% below the market average80.48% below the market average80.48% below the market average
66.41% below the sector average66.41% below the sector average66.41% below the sector average66.41% below the sector average66.41% below the sector average
Income
90.83% above the market average90.83% above the market average90.83% above the market average90.83% above the market average90.83% above the market average
20.00% above the sector average20.00% above the sector average20.00% above the sector average20.00% above the sector average20.00% above the sector average
Growth
89.64% above the market average89.64% above the market average89.64% above the market average89.64% above the market average89.64% above the market average
51.61% above the sector average51.61% above the sector average51.61% above the sector average51.61% above the sector average51.61% above the sector average

What The Brokers Say

Strong Buy 6
Buy 0
Neutral 4
Sell 0
Strong Sell 1
Total 11
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 2nd Interim
Ex-Div 20-May-21 13-Aug-20
Paid 15-Jun-21 11-Sep-20
Amount 3.00¢ 6.00¢

Trades for 29-Jul-2021

Time Volume / Share Price
16:45 2,971 @ 104.60p
16:45 2,971 @ 104.60p
16:35 931,690 @ 104.60p
16:29 356 @ 104.50p
16:29 565 @ 104.50p

Centamin (DI) Key Personnel

CFO Ross Jerrard
CEO Martin Horgan

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