Centamin (LON:CEY) Sets New 12-Month High – Here’s Why

Centamin plc (LON:CEY) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 173.80 ($2.26) and last traded at GBX 171.50 ($2.23), with a volume of 5468875 shares trading hands. The stock had previously closed at GBX 167.92 ($2.18).

Analysts Set New Price Targets

CEY has been the subject of several analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 150 ($1.95) price target on shares of Centamin in a research report on Tuesday, September 10th. Berenberg Bank reiterated a “buy” rating and set a GBX 160 ($2.08) target price on shares of Centamin in a research report on Wednesday, August 21st.

Centamin Stock Performance

The stock has a market cap of £2.00 billion, a P/E ratio of 3,430.00, a PEG ratio of -1.53 and a beta of 0.56. The stock has a fifty day simple moving average of GBX 141.80 and a 200-day simple moving average of GBX 129.73. The company has a quick ratio of 2.09, a current ratio of 3.44 and a debt-to-equity ratio of 0.29.

Centamin Increases Dividend

The company also recently announced a dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, August 29th were issued a $0.02 dividend. The ex-dividend date was Thursday, August 29th. This is a positive change from Centamin’s previous dividend of $0.02. This represents a yield of 1.35%. Centamin’s dividend payout ratio (DPR) is 6,000.00%.

About Centamin

Centamin plc, together with its subsidiaries, engages in the exploration, mining, and development of gold and precious metals in Egypt, Côte d'Ivoire, Burkina Faso, Jersey, the United Kingdom, and Australia. Its principal asset is the Sukari Gold Mine project, which covers an area of approximately 160 square kilometers located in the Eastern Desert of Egypt.