Centamin (CEY) Announces Dividend Increase – $0.10 Per Share

Centamin (LON:CEY) declared a dividend on Wednesday, January 31st, Upcoming.Co.Uk reports. Stockholders of record on Thursday, March 22nd will be given a dividend of $0.10 per share by the mining company on Friday, April 6th. This represents a dividend yield of 4.34%. The ex-dividend date of this dividend is Thursday, March 22nd. This is an increase from Centamin’s previous dividend of $0.03. The official announcement can be viewed at this link.

Shares of LON CEY traded down GBX 0.45 ($0.01) during trading on Friday, hitting GBX 152.40 ($2.14). 6,116,533 shares of the company were exchanged, compared to its average volume of 6,320,000. Centamin has a 12-month low of GBX 130.60 ($1.83) and a 12-month high of GBX 193.90 ($2.72).

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Several research analysts have recently commented on the company. Numis Securities lifted their price target on Centamin from GBX 170 ($2.39) to GBX 200 ($2.81) and gave the stock a “buy” rating in a report on Thursday, January 11th. BNP Paribas reiterated an “outperform” rating and set a GBX 210 ($2.95) price target on shares of Centamin in a report on Friday, February 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a GBX 170 ($2.39) price target on shares of Centamin in a report on Thursday, January 4th. Goldman Sachs reiterated a “conviction-buy” rating and set a GBX 195 ($2.74) price target on shares of Centamin in a report on Monday, March 26th. Finally, Berenberg Bank restated a “hold” rating and issued a GBX 156 ($2.19) price objective on shares of Centamin in a report on Friday, March 9th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of GBX 181.60 ($2.55).

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Centamin Company Profile

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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