Centamin (CEY) Hits New 52-Week Low at $117.25

Centamin PLC (LON:CEY)’s share price hit a new 52-week low on Wednesday . The company traded as low as GBX 117.25 ($1.56) and last traded at GBX 119.75 ($1.59), with a volume of 10413516 shares. The stock had previously closed at GBX 119.20 ($1.59).

A number of equities analysts recently weighed in on CEY shares. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 156 ($2.08) target price on shares of Centamin in a research note on Friday, March 9th. Goldman Sachs Group reaffirmed a “conviction-buy” rating and issued a GBX 195 ($2.60) target price on shares of Centamin in a research note on Monday, March 26th. BNP Paribas restated an “outperform” rating on shares of Centamin in a research note on Thursday, April 5th. Royal Bank of Canada restated an “outperform” rating on shares of Centamin in a research note on Monday, April 9th. Finally, Numis Securities upgraded shares of Centamin to a “buy” rating and set a GBX 180 ($2.40) price objective for the company in a research note on Tuesday, May 29th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of GBX 176.38 ($2.35).

In related news, insider Youssef El-Raghy sold 45,091 shares of the firm’s stock in a transaction dated Monday, June 4th. The shares were sold at an average price of GBX 126 ($1.68), for a total value of £56,814.66 ($75,641.94). Also, insider Andrew Pardey bought 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 8th. The stock was purchased at an average price of GBX 123 ($1.64) per share, with a total value of £61,500 ($81,879.91).

About Centamin

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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