Numis Securities Ltd cut shares of Centamin PLC (LON:CEY) to a hold rating in a report published on Friday morning. The brokerage currently has GBX 170 ($2.24) price objective on the mining company’s stock.
Several other research firms have also weighed in on CEY. Panmure Gordon reaffirmed a buy rating on shares of Centamin PLC in a research note on Monday, April 10th. Investec reaffirmed a buy rating and issued a GBX 185 ($2.44) price objective on shares of Centamin PLC in a research note on Monday, June 12th. Macquarie lifted their price objective on Centamin PLC from GBX 180 ($2.37) to GBX 200 ($2.64) and gave the company an outperform rating in a research note on Thursday, June 8th. Jefferies Group LLC reaffirmed a hold rating and issued a GBX 170 ($2.24) price objective on shares of Centamin PLC in a research note on Friday. Finally, BNP Paribas assumed coverage on Centamin PLC in a research note on Thursday, May 18th. They issued an outperform rating and a GBX 210 ($2.77) price objective on the stock. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Centamin PLC presently has a consensus rating of Buy and an average target price of GBX 182.86 ($2.41).
In related news, insider Josef El-Raghy sold 5,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of GBX 173 ($2.28), for a total transaction of £8,650,000 ($11,410,104.21). Also, insider Trevor Stanley Schultz purchased 2,600 shares of Centamin PLC stock in a transaction that occurred on Tuesday, May 9th. The shares were bought at an average cost of GBX 154 ($2.03) per share, for a total transaction of £4,004 ($5,281.63). Insiders have sold a total of 10,383,333 shares of company stock worth $1,817,549,944 over the last three months.
About Centamin PLC
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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