Canaccord Genuity Group Reaffirms “Buy” Rating for Centamin (LON:CEY)

Centamin (LON:CEY)‘s stock had its “buy” rating reiterated by Canaccord Genuity Group in a note issued to investors on Tuesday, Digital Look reports. They currently have a GBX 150 ($1.96) price objective on the mining company’s stock. Canaccord Genuity Group’s target price would indicate a potential upside of 1.64% from the stock’s previous close.

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 160 ($2.09) target price on shares of Centamin in a research note on Wednesday, August 21st.

Centamin Stock Performance

Shares of CEY traded up GBX 27.98 ($0.37) during mid-day trading on Tuesday, reaching GBX 147.58 ($1.93). 109,112,555 shares of the company’s stock were exchanged, compared to its average volume of 5,247,862. The business’s fifty day simple moving average is GBX 125.27 and its 200-day simple moving average is GBX 119.22. The stock has a market capitalization of £1.71 billion, a PE ratio of 2,960.00, a price-to-earnings-growth ratio of -1.53 and a beta of 0.56. Centamin has a 52-week low of GBX 77.25 ($1.01) and a 52-week high of GBX 150.90 ($1.97). The company has a debt-to-equity ratio of 0.29, a current ratio of 3.44 and a quick ratio of 2.09.

Centamin Company Profile

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.