Centamin (LON:CEY) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Shares of Centamin plc (LON:CEY) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 131.35 ($1.70) and traded as high as GBX 164.90 ($2.14). Centamin shares last traded at GBX 163.50 ($2.12), with a volume of 10,938,738 shares.

Analysts Set New Price Targets

CEY has been the subject of a number of research analyst reports. Berenberg Bank reissued a “buy” rating and set a GBX 160 ($2.07) price target on shares of Centamin in a research note on Wednesday, August 21st. Canaccord Genuity Group reissued a “buy” rating and set a GBX 150 ($1.95) price target on shares of Centamin in a research note on Tuesday, September 10th.

Centamin Price Performance

The firm has a fifty day simple moving average of GBX 147.76 and a 200 day simple moving average of GBX 131.80. The company has a market capitalization of £1.84 billion, a PE ratio of 3,228.00, a P/E/G ratio of -1.53 and a beta of 0.56. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.09 and a current ratio of 3.44.

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.