Centamin (LON:CEY) Trading 2.8% Higher – Should You Buy?

Shares of Centamin plc (LON:CEY) shot up 2.8% during trading on Thursday . The stock traded as high as GBX 147.90 ($1.86) and last traded at GBX 146 ($1.83). 126,699,313 shares traded hands during mid-day trading, an increase of 1,939% from the average session volume of 6,212,938 shares. The stock had previously closed at GBX 142 ($1.78).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a “buy” rating and set a GBX 150 ($1.89) price target on shares of Centamin in a research note on Tuesday, September 10th.

Centamin Price Performance

The company has a market cap of £1.69 billion, a price-to-earnings ratio of 2,920.00, a PEG ratio of -1.53 and a beta of 0.56. The business has a 50-day simple moving average of GBX 151.66 and a two-hundred day simple moving average of GBX 137.34. 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 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.