Centamin’s (CEY) “Outperform” Rating Reaffirmed at Royal Bank of Canada
Centamin (LON:CEY)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Thursday, January 4th. They presently have a GBX 170 ($2.39) price objective on the mining company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 5.59% from the stock’s current price.
A number of other equities analysts also recently commented on CEY. Numis Securities reissued a “buy” rating and issued a GBX 170 ($2.39) price objective on shares of Centamin in a research note on Monday, September 25th. Shore Capital reissued a “not rated” rating on shares of Centamin in a research note on Monday, October 9th. Goldman Sachs Group reissued a “conviction-buy” rating and issued a GBX 210 ($2.95) price objective on shares of Centamin in a research note on Tuesday, October 10th. Jefferies Group reduced their price target on Centamin from GBX 170 ($2.39) to GBX 155 ($2.18) and set a “hold” rating on the stock in a research report on Thursday, October 19th. Finally, Panmure Gordon reaffirmed a “buy” rating on shares of Centamin in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of GBX 185.56 ($2.61).
Shares of Centamin (CEY) traded up GBX 0.70 ($0.01) during trading hours on Thursday, reaching GBX 161 ($2.26). 6,365,884 shares of the company were exchanged, compared to its average volume of 5,130,000. The company has a market capitalization of $1,850.00 and a P/E ratio of 2,683.33. Centamin has a 52 week low of GBX 130.60 ($1.83) and a 52 week high of GBX 193.90 ($2.72).
Centamin plc is a mineral exploration, development and mining company. The Company is engaged in the business of exploration and production of precious metals. It operates in Australia, Jersey, Egypt, Burkina Faso and Cote d’Ivoire. Its principal asset, the Sukari Gold Mine (SGM), is located in the Eastern Desert, approximately 900 kilometers from Cairo and 25 kilometers from the Red Sea.
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